Los Angeles elects Nithya Raman, who vows to triple homebuilding in America's least affordable big city

Los Angeles City Councilmember Nithya Raman has unseated Mayor Karen Bass, according to Realtor.com News, which reported that the Associated Press called the race on Thursday afternoon and that Bass phoned Raman to concede. AP, NBC News, The Guardian and the Financial Times all ran the result on Thursday. Raman takes office in January and campaigned on housing and affordability.

What she says she will do

Realtor.com describes the centerpiece as a plan to triple annual housing production by speeding up permitting with strict "shot clocks" for approvals. Other proposals include overhauling inspections, updating building codes and eliminating extra fees to encourage more starter homes. Raman told Realtor.com that fewer than 10% of new homes built in Los Angeles are for sale, and that for-sale projects face higher fees, a more complicated approval process, easier appeals and greater liability risk for developers.

Bass's record, as Realtor.com summarizes it, includes an executive directive that streamlined approval of roughly 50,000 fully affordable units and a rezoning program meant to clear the way for half a million homes. Realtor.com's September Metro Report Cards nonetheless ranked Los Angeles the least affordable large city in the country.

The arithmetic behind the pitch

Realtor.com assumes a 10% down payment and a 6.5% 30-year fixed rate on a $1.12 million median-priced home, and says a median earner would spend nearly 85% of income on the mortgage. Our own check of the loan: a 10% down payment leaves a $1,008,000 loan, and at 6.5% over 30 years the principal-and-interest payment is about $6,371 a month, before taxes and insurance. The latest weekly average from Freddie Mac is higher than 6.5%: see our report on the 7.18% reading. At that rate the payment would be well above $6,371.

Who it touches

• Builders and developers: the proposed changes target cost and delay, the two inputs that decide whether a for-sale project pencils out. Nothing here is law yet. Shot clocks, fee changes and code updates would need to be written and passed.
• Trades and suppliers: tripling output would mean far more framing, electrical, plumbing and roofing work, if it happens. Our data counts independent construction trades by city.
• Landlords and owners: more supply is the long-run pressure on rents and prices, but permits do not turn into units quickly, and financing costs still decide which projects start.

What to watch

The unanswered questions are how many approvals a shot clock actually speeds up, which fees go, and how much of the change needs state or council action rather than the mayor's office alone. Raman also faces her pledge to cut homelessness 50% by the 2028 Olympics, which Realtor.com notes against roughly 45,000 people living in tents and encampments in the city in 2026 data. See also our real estate coverage.

Sources: Realtor.com News; AP, NBC News, The Guardian and Financial Times headlines of November 5, 2026. Payment calculation by the Chronicle. This is market information, not investment advice.