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Here's how much Los Angeles is spending to house the homeless — each unit costs more than buying a home

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"This kind of cost is utterly unacceptable..."

ROBYN BECK/AFP/Getty Images

A government program in Los Angeles aims to house the homeless by building apartments, and the cost has now exceeded simply buying a home at the median price in L.A. County.

According to the city controller's office, Los Angeles is completing a project to provide 72 new apartments in the middle of Koreatown, and each unit is costing the taxpayer about $690,000.

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