Inglewood Today
April 14, 2016
C o mm u n i t y
Weekly ‘Q & A’ with Gloria Gray
Rents and Home Prices Expected to ‘Soar’ Experts Say
L
ow housing inventory and higher demand within Los Angeles County are signs that the economy is on the upswing. The tradeoff is those looking to purchase a home or rent an apartment will have to pay more. According to the latest data, despite an 18 percent jump in home construction permits last year, vacancies in L.A. County continue to lag behind the national average. The climb in rental prices is expected to continue for at least the next 2 years. The state’s population has grown faster than the national average, housing 13 percent of all American residents. Yet, in the past two decades, California has only been responsible for 8 percent of all new residential building permits, according to a report by the 2016 USC Casden Multifamily Forecast Even though apartment construction is back to “pre-recession” levels, the forecast says, the state’s growing economy and population
Page 9
are jacking up demand quicker than apartments can be built; besides which, most of what’s being built is expensive luxury housing. The report predicts the average rent will “soar” from its 2015 average of $1,307 up to a countywide average of $1,416. The vacancy rate will stay about the same, at 4.1 percent—just under its 2015 rate of 4.2 percent. Inglewood, Gardena and Hawthorne had the lowest average vacancy rate at 1.5 percent. There is no rent control in Inglewood or Hawthorne. According to Trulia. com, the median price for rentals in Inglewood for March 2016 was $2,400, an increase of 54% compared to the same period last year. In home sales, Los Angeles market trends indicate an increase of $47,500 (8%) on average over the past year. The average price per square foot for this same period rose to $526, up from $479. The median sales price for homes (Continued on page 11)
By Amanda Anderson
C
urrently, Ms. Gloria Gray is on the West Basin Water District Board of Directors. She is the first African American woman elected to that position in 68 years. This week, I spoke with her about the basics of the West Basin Water District, which happens to provide water to over one million residents in the area. Q: How are you currently involved with Gloria D. Gray the City of Inglewood? Gray: Well, I’ve lived here for a number of years and have served in a lot of organizations. I’m really involved in water; I was elected to the water board in 2014. The board has 5 elected members and I was elected to represent the City of Inglewood. Q: What does West Basin mainly do? Gray: We are a wholesaler of water. West Basin is a direct supplier of water to the City of Inglewood. The City buys its water from West Basin Municipal Water District. Q: Why do we need the water board? Gray: Water is liquid gold and we need a board to ensure accountability of water usage within our communities and businesses. Q: What can you do to make sure Inglewood does not run out of water? Gray: We teach people how to conserve water and provide resources to help residents and companies save water. We often give away water efficiency equipment. (Continued on page 11)
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