06/16/2026
Los Angeles has managed to create the worst of both worlds: vacant apartments, people living on the streets, and taxpayers paying for both.
Roughly 259 taxpayer-funded apartments intended for unhoused Angelenos sat vacant in May while public agencies continued paying rent. At approximately $3,400 per month per unit, taxpayers are spending about $10.6 million annually to house nobody.
Mayor Karen Bass’s master leasing program aimed to move people off the streets, but Los Angeles discovered something even harder than building housing: filling it.
LAHSA says incoming tenants require subsidies, many of which have been reduced or paused.
Why sign long-term leases without ensuring there would be a reliable source of funding to fill them?
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Written by John Hathorn
Pence Hathorn Silver | Luxury Property Group - Compass
310.924.4014 | [email protected]
DRE 01991628