Adam Deermount Deermount: “This measure would make construction of housing much more expensive at a time when California can ill-afford it, in some cases increasing construction costs by 45% to 50%.”

NEWPORT BEACH, CA—Those who build entry-level market-rate housing would be devastated by AB199, which would subject all residential projects built on private property to prevailing wage standards, Landmark Capital Advisors managing director Adam Deermount tells Deermount has been watching this bill closely, so we spoke with him about what it would do and its implications for the affordable-housing sector.