Reported about 10 hours ago
Wildfires have intensified an existing housing affordability crisis in Los Angeles, with rental prices skyrocketing. Owner Patrick Michael from LA Estate Rentals reported a significant increase in rental inquiries, with some homes now listed for $40,000 a month. The disaster has exacerbated competition for rentals, particularly in hard-hit areas, leading to price gouging concerns as many displaced residents scramble for housing. Despite regulations against price hikes following emergencies, enforcement remains uncertain, leaving many facing a tighter and more expensive market for housing.
Source: YAHOO