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The ‘balcony inspection’ law’s impact on L.A.’s lagging condo market
'Thoughtful adjustments to implementation of SB 326 and communication with lenders could help restore balance to this segment of the housing market,' writes an L.A. Times reader.
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To the editor: In response to the question of why L.A.’s condo sales have cooled, a significant part of the answer lies in California’s Senate Bill 326, the “balcony inspection” law (“L.A.’s surging real estate prices have cooled, so why is nobody buying condos?,” May 13). While the law is well-intentioned and addresses legitimate safety concerns in aging buildings, its unintended consequences are discouraging buyers, and specifically lenders.
Lenders are hesitant to approve loans for condos affected by the law’s litany of requirements. Securing the necessary drawings and permits and scheduling even minor work can take complexes six months to a year. Sales are near impossible during that time.
Even buyers with substantial down payments face obstacles securing financing. As a result, condos are staying on the market longer or being converted into rentals — outcomes that do not benefit condo sellers, prospective buyers or homeowner associations.
After a nail-biting escrow period, I ultimately sold my San Fernando Valley condo for cash in March 2026. I consider myself fortunate, but many others are not as lucky. Thoughtful adjustments to implementation of SB 326 and communication with lenders could help restore balance to this segment of the housing market.
Nancy Meyer, Humble, Texas
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Originally published by Los Angeles Times
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