The Los Angeles Times spoke to Paavo Monkkonen, associate professor of urban planning and public policy, about the tenancy-in-common homeownership model, in which residents own a share of an overall lot and have exclusive rights to live in their unit. Some Los Angeles developers are using this model to replace single-family homes with new townhomes, adding to the overall stock of housing. Critics are concerned that investors may displace tenants in cheaper rentals to convert them into tenancy-in-common units. UCLA’s Monkkonen said it’s important to consider that demolished houses are sometimes renovated into high-end homes, which do not ease the affordable housing crunch. Tenancy-in-common units are typically cheaper than many housing options and could provide a quicker way to expand affordability than waiting for more supply to trickle down, he said.
Professor of Urban Planning and Public Policy
Paavo Monkkonen is Professor of Urban Planning and Public Policy at the UCLA Luskin School of Public Affairs. He researches...
