In Los Angeles, if you want to replace a duplex in a middle class neighborhood with, say, a new 8-unit apartment building...
1) You will need to pay each of the existing households between $84,750-$111,900 in relocation assistance.
2) 2 of your 8 new units will be deed-restricted affordable housing.
3) All 8 new units will be rent-controlled.
4) If your completed project is worth more than $5.3M, it will be subject to the Mansion Tax.
The current housing shortage: not a mystery!
JUST IN: Arcadia, California, Mayor Eileen Wang has been charged with acting as an illegal foreign agent to China.
Wang was elected to the Arcadia City Council in November 2022.
She is accused of working with the People’s Republic of China to spread propaganda on a news website on United States soil between 2020 and 2022.
"Wang and Sun [then-fiance] worked together to operate U.S. News Center, a website that purported to be a news source for the local Chinese American community," the DOJ said.
"Wang and Sun received and executed directives from PRC government officials to post pro-PRC content on the website."
On one occasion, Wang's "spymaster" directed her to share a story, denying the existence of genocide and forced labor in China.
"There is no genocide in Xinjiang; there is no such thing as ‘forced labor’ in any production activity, including cotton production. Spreading such rumor is to defame China, destroy Xinjiang’s safety and stability," her spymaster allegedly said.
Wang has pleaded guilty to the federal charge. She is facing up to 10 years in prison.
The semiconductor sector chart since ceasefire day looks like it’s almost made up. A straight $SOXX line in an ~80° angle.
Maybe the AI running this simulation just having fun, using a ruler.