Experts: Housing, Taxes Among Challenges for LA and California (VIDEO)

Identifying the biggest challenge facing Los Angeles in particular and California in general drew a variety of responses from commercial real estate industry experts at the recent Connect Los Angeles event. “The biggest challenge is really more political than economic,” said Gary Bechtel, CEO of Red Oak Capital Holdings.

Conversely, Felix Gutnikov, principal and head or originations at Thorofare Capital, called for “more state and local government intervention” to address the issues of crime and homelessness that beset LA. At the same time, though, he laid some of the responsibility for the exodus of residents from California on tax policy. Other industry heavyweights cited the state’s shortage of affordable housing.

In the video below, you’ll also glean insights from Lew Horne, president, Greater LA, OC & Inland Empire, CBRE; Bob Hart, president and CEO, TruAmerica Multifamily; Craig Coan, partner, Greenberg Glusker; Kyle Matthews, founder, chairman & CEO, Matthews Real Estate Investment Services; John Manning, SVP, head of production, Western Region, Marcus & Millichap Capital Corporation; and George Mitsanas, principal/president, Gantry.