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Mary Leslie

The affordability crisis in Los Angeles is beginning to stunt economic activity. The high cost of housing in Los Angeles is impacting employee recruitment and retention, especially in healthcare, hospitality and professional and technical services industries. Those three industries happen to three of the fastest growing sectors in Los Angeles, and affordability is impacting further growth. The Affordable Housing Crisis in Los Angeles: Impacts to L.A.’s Fastest Growing Companies is a repot released in by USC Price Center for Social Innovation in partnership with the Los Angeles Business Council Institute to analyze the impacts of housing costs on businesses. Despite the challenge of high housing costs, few companies have implemented strategies or programs to help employees with the housing burden.

“Employers all acknowledge that the high cost of housing is having a profoundly negative impact on employee recruitment, retention and quality of life,” Mary Leslie, President of the Los Angeles Business Council. “That’s why we found it surprising that the majority of employers we interviewed didn’t have any programs in place to help reduce their employees’ housing burden. We fear there will be a breaking point for those employees forced to choose between high rents, substandard living conditions or long commutes, and they are likely to pick getting out of L.A.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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