The price for rental housing has spiked in Los Angeles after the fires

The price for rental housing has spiked in Los Angeles after the fires, creating another problem for the thousands who lost their homes. KNBC's Mekahlo Medina has the details.

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#LosAngeles #California #Wildfires

[sleepwalker]

It's called supply and demand. If half the homes are gone the ones left double in value. It's not price gouging. The home owners get to raise the price of their listing, and not the Realtor. So you can't sue a homeowner who can legally ask whatever they want for their home. The state can't do anything. These are property rights.

[alinthemind]

Housing providers are raising rents because their costs have increased, primarily due to higher insurance premiums from covering fire victim claims. For those benefiting from these insurance payouts while affecting housing providers, it is entirely reasonable to bear the rent increases.

[willthethrillguitar]

Meanwhile the rest of the county is slowly squeezed but if rich people get a 22% increase in a week the world is ending

[reddalchemy]

Welcome to what the middle class has to deal with on a REGULAR BASIS. Landlords being absolute money whores is not anything new, and of course they are going to try to find a way to exploit this horrible situation, but the middle class has been screaming for years about price gouging from landlords and nothing is done about it. Wish I could say I am surprised. The insane rent was one of the reasons I left California a few years ago. I was at my place for almost 10 years, and my landlord raised the rent little by little each year, but in my last year there, he raised the rent TWICE. The second time was almost by 60%, so he was def trying to price us out. Couldn't afford it anymore, so I gave my notice, and left and never looked back. I would not go back to Cali even if I were rich.

[RonBlauvelt-jq]

Demand increases price… if you own something you always try and get the most you can when selling or renting in this case

[RonBlauvelt-jq]

Nobody owes you a home… rent or sell for what you feel like paying

[n.e]

God will punish the greedy . What’s wrong with these landlords. Shame on them . Have compassion.

[horroRomantic]

If they passed proposition 33, none of the gouging would have happened. Also, if you need to punish the price gougers, don't fine them. Put a lien on their property, 10 percent per each violation instead.

[savageCI]

Part of the reason that state is the way it is just vultures eating their own

[thethrillofpattaya]

Let's see over the next few years if MOST Californians <yes I am one> have learned from this. I have known about these things since I was learning about politics from a very young age. I moved from LA 19 months ago. Best decision of my LIFE!

[jayvincent]

Why is it that the counties with the highest paying jobs in the United States mirror the most tax delinquent counties ??

[trevorm]

Us poor folks who have been dealing with this our whole lives hope it hurts finally yall can see with inflation and spikes in prices for nothing how we feel

[eddieg]

…….No wonder why my almost 30 YEAR OLD nephew still lives with his parents. 🤷🏼‍♂️🤔👎🏻

[TruthTold-kytn]

Like rent gouging or land profiteering is new all a sudden. But lets care because rich LA homes have been destroyed.

[LadieKadie]

LA Homeboy there lives in the most expensive city in the world and wants to complain about rising rent when supply is so low? Sit down “Homeboy.”

[ryanbon]

This is not breaking news, this has been happening for several years now.

[ThirdNameFirstName]

The people who lost their homes made their fortune by doing the same thing.

[SENBRM]

I feel something for the poor people and just the homeowners but the business class and the rich people they supported all of this up until January 7th and now they're complaining that the systems not working for them welcome to the real world

[developmentvlog]

Help each other first thing.
People need to understand what happen in LA people life.
Please 🙏 don't increase price of rental houses.

Support each other and help each other..

God bless you 🙏 ❤️

Love from India...

I pray God to forgive every people 🙏

[glamdoll]

Property values are determined by location and comparative property valuation. If they all raise the rental rates… THATS THE NEW VALUE. The law states you cannot increase the price more than 10% above its VALUE