A new study by a tenant advocacy group shows a major increase in rent prices across the Los Angeles area during Southern California’s recent wildfires despite laws preventing price gouging
The most competitive markets this year share characteristics such as relative affordability and “supply that trails demand,” according to Zillow. Taking the top spot in the ranking is Buffalo, New York, followed by Indianapolis and Providence, Rhode Island.
Within the week since Los Angeles’s worst-ever disaster began, rent gouging has become a crisis on top of the crisis. It’s against the law to increase a rental price by more than 10 percent once a state of emergency has been declared;
Because California is in a state of emergency, laws targeting price-gouging, including a ban on landlords raising rents by more than 10 percent of pre-emergency levels, should be in effect. But that hasn't deterred some landlords from apparently raising their rents by far more than that,
Tenant advocacy groups, landlord associations and elected officials are condemning rent gouging after tens of thousands of people were displaced in deadly fires this month.
Rent prices across the Los Angeles region have skyrocketed just as thousands of people are scrambling to find lodging after the wildfires. The Washington Post, for example, analyzed listings via RentCast and found that rent has increased 20% overall in Los Angeles County since the fires began.
How the study came about: The Rent Brigade is a new independent collective made up of tenant advocates, web programmers, housing researchers and ordinary Angelenos who say they naturally gravitated toward working together after posts about alleged rent gouging flooded social media in the days after the fires.
Los Angeles Magazine on MSN1d
Price Gouging Hits L.A.'s Fire Evacuees
As wildfires leave residents displaced across the city, some landlords are raising rents beyond legal limits, forcing evacuees into an increasingly unforgiving housing market.
The 1950s single-story house was unharmed by the recent wildfires.
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Stories of survival are emerging in the aftermath of the Palisades and Eaton Canyon fires – from people who are amazed to find out their homes survived.
The real costs of owning a house in neighborhoods that are vulnerable to flooding and wildfires are becoming clearer.