How to Solve the Homelessness Crisis #60

Hi Everyone and Welcome Back!

This week on The Nick Halaris Show we are featuring my friend Sarah Dusseault, a prominent local civic activist and the lead strategist at LA4LA, a first-of-its-kind government, philanthropy and private sector alliance formed to unlock affordable housing options in Los Angeles at scale and speed.  She’s also my colleague at the Angeleno Project and one of the most dedicated, passionate, and professional civic activists I’ve ever come across.

Ready to dive in? Listen to this episode on Apple Podcasts, Spotify, Amazon Music and YouTube or on your favorite podcast platform.

I wanted to have Sarah on the show to shine a big spotlight on all the important work she’s doing in the region and to get her insider perspective on some of the big issues we’ve been covering here like the housing affordability crisis, homelessness, and the substance abuse and mental health crises.  As someone with decades of experience in policy and activism, who has worked in and out of government at the highest levels, and served on a bunch of high-profile commissions, I knew Sarah would have a lot to share.  Tune in to this inspiring episode to learn:

  • Why innovation is urgently needed to spur affordable housing production and how LA4LA’s unique alliance can make a difference

  • Why Los Angeles has struggled to develop a cohesive civic identity and its implications on city politics and functioning

  • Why dramatic improvements in access to care for mental health and substance abuse services is crucial to solving the homelessness crisis

  • How a holistic approach that prioritizes early intervention, community building, and peer-driven resources can dramatically improve outcomes with mental health and substance abuse

  • Much, much more 

Stay tuned to the end to learn the redemptive story of Sarah’s decades long struggle to help her own brother, who has struggled with mental health, substance abuse, and homelessness, and hear how it has inspired her impressive track record of community work and still fuels her passionate commitment to making Los Angeles a better place for everyone today.    

As always, I hope you all enjoy this episode.  Thanks for tuning in!     

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Summary
In this conversation, Nick Halaris interviews Sarah Dusseault, a prominent civic activist in Los Angeles. They discuss the high cost of capital and its impact on housing, as well as the LA for LA initiative that aims to tap into philanthropy, private capital, and government resources to address the housing crisis. They also explore the challenges of attracting corporate capital to support community initiatives in LA. Sarah shares her journey into local politics and civic activism, including her work on homelessness and mental health. They discuss the need for early intervention and better access to mental health care. The conversation explores the need for a middle ground in mental health policy, the importance of access to care, and the challenges of building a comprehensive support system. It emphasizes the need for a holistic approach to mental health, including community building and peer-driven resources. The conversation also highlights the financial implications of not addressing mental health and substance abuse issues, and the potential for cost savings through effective care. The importance of data, legal changes, and adequate funding for both housing and mental health resources is discussed. The conversation concludes with a call for a coalition to address the housing crisis and change the mindset around affordable housing.

Keywords
housing crisis, high cost of capital, LA for LA, philanthropy, private capital, government resources, homelessness, mental health, local politics, civic activism, mental health, access to care, housing, homelessness, substance abuse, holistic approach, community building, peer-driven resources, financial implications, cost savings, data, legal changes, funding, coalition, affordable housing

Takeaways

  • The high cost of capital is a significant challenge in addressing the housing crisis in Los Angeles, making it difficult to build affordable housing units.

  • The LA for LA initiative aims to leverage philanthropy, private capital, and government resources to create new pathways for funding housing projects.

  • Attracting corporate capital to support community initiatives in LA has been a struggle, partly due to the lack of a strong civic identity and a sense of belonging to the city.

  • Getting involved in local politics and civic activism can lead to tangible policy changes with a quick turnaround and a direct impact on people's lives.

  • Early intervention and better access to mental health care are crucial in addressing homelessness and supporting individuals with mental illness. Finding a middle ground in mental health policy is crucial for effective intervention and support.

  • Access to care, including mental health professionals and services, is essential for addressing mental health issues.

  • A holistic approach to mental health, including community building and peer-driven resources, is necessary for long-term support.

  • Addressing mental health and substance abuse issues can lead to cost savings and better outcomes.

  • Data, legal changes, and adequate funding are needed to create a comprehensive support system.

  • A coalition is necessary to address the housing crisis and change the mindset around affordable housing.

Titles

  • Addressing the High Cost of Capital in the Housing Crisis

  • Getting Involved in Local Politics and Making a Difference Finding the Middle Ground in Mental Health Policy

The Importance of Access to Care for Mental Health

Sound Bites

  • "The high cost of capital is holding us back in addressing the housing crisis."

  • "LA for LA is both a fund and a connector, raising money and engaging in projects to solve community challenges."

  • "LA has struggled to attract corporate capital due to the lack of a strong civic identity and a sense of belonging."

  • "We're finding that middle ground where the state can effectively intervene."

  • "It's really about the whole system and the work we've done around creating an ecosystem that's effective."

  • "We need to just think about mental health as just the same as you would check up a heart condition."

Chapters
00:00 Introduction and Background
01:27 The High Cost of Capital in the Housing Crisis
03:47 LA for LA: Philanthropy, Private Capital, and Government Resources
09:53 Challenges of Attracting Corporate Capital in LA
17:57 Getting Involved in Local Politics and Making a Difference
35:44 The Importance of Early Intervention and Access to Mental Health Care

38:27 Finding the Middle Ground in Mental Health Policy
39:25 The Importance of Access to Care for Mental Health
40:23 Building a Holistic Support System for Mental Health
43:45 The Financial Implications of Ignoring Mental Health
44:13 Data, Legal Changes, and Funding for a Comprehensive Support System
57:31 Creating a Coalition to Address the Housing Crisis

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Nick Halaris

I’ve been fascinated by investing for as long as I can remember. As a kid, I would read the Wall Street Journal, the Economist and Barron’s, pouring over the data tables, stories and interviews with a passion and an insatiable kind of curiosity. As I grew into adulthood, I struggled to find the right outlet and channel for this passion and spent much of my twenties wandering and trying out different things. I had a very brief career as an attorney, spent some time as a strategy and leadership consultant for big multinational companies, failed in an attempt to start a hedge fund, and even ended up helping run a scrap metal recycling operation for a while.

At the age of 30 though, I took my stand. I made up my mind that no matter what I was going to be an entrepreneurial investor. As crazy as it sounds, I owe everything in my life to this one foundational decision—even my amazing wife and my beautiful kids. I don’t think I would ever have met Alicia had I not made this one choice. At that moment in time, the financial world had just been devastated by the crash in the housing market and the near systemic failure of the global banking system that followed. I’ve always had a contrarian bent to my investment thinking; so, to me the carnage in real estate looked like an opportunity.

It all started with one house in Compton California. The business plan was simple: buy a distressed foreclosed home from a bank, bring it back to life with a big renovation and sell it to a first-time homebuyer. Things progressed slowly as they tend to do with real estate. In the first years of this, I think I did 6-7 homes. But then after plugging away day-by-day, suddenly it seemed, things just came together. I found the right investors and the right loans and the right deals and in just a few short years I ended up investing in over 100 such transactions, building a portfolio of almost 2,500 multifamily units and creating a fully vertically integrated real estate company with almost 100 employees.

Fast forward to today and I’m running the second evolution of my entrepreneurial investing career and having so much fun that I have to stop and remind myself that this is all real.

http://www.nickhalaris.com
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How to Create a Better Election System in America #63

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How AI can transform and improve our legal system #61