Rents will go up as thousands of displaced homeowners and tenants hit an already tight market, analysts and advocates said. Insurance costs, contracting and permitting are among the myriad of stressors added to L.A.’s housing challenges, many of which were already at risk of worsening.
Rent was close to unaffordable for our two-bedroom apartment when we were in L.A. in the early 2010s. We had already been there for a decade, so our rent was still lower than a lot of our neighbors, and we were making an amount of money that would get us a decent house to rent in a lot of other places, but it was still getting to the point where we wouldn’t be able to afford it. Our rent was literally cut in half when we moved back to Indiana and we rented a house that was actually too big for us. Sure, lower standard of living, but cut in half? And now?
Supply and demand.
Three little words that try and fail to excuse a whole lot of suffering.
True
The price of housing he’s little to do with supply and demand. (not in the way most people think.)what if the supply is artificially decreased to drive up demand? What if every land lord company was working together to increase profits?
Whether it’s manipulated or not, it’s still supply and demand.