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How AB199 Could Impact the Housing Sector

NEWPORT BEACH, CA—Those who build entry-level market-rate housing would be devastated by this bill, which would subject all residential projects built on private property to prevailing wage standards, Landmark’s Adam Deermount tells GlobeSt.com.

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 GlobeSt.com. 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.

GlobeSt.com: How did AB199 come about?

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Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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