Lens on L.A.’s Spiking Rental Housing Prices During Wildfires
UCLA Luskin Professor of Public Policy and Urban Planning Michael Lens commented in an LAist story on skyrocketing rental housing prices in Los Angeles amid the region’s devastating wildfires. The article cites examples of online listings nearly doubling since the fires broke out, while thousands of residents who have lost their homes or been displaced are now scrambling to find alternative places to live. California Gov. Gavin Newsom already has imposed an emergency declaration that includes a ban on price gouging — any price increase above 10% of pre-disaster rates. In another LAist story, Lens said homeowners who’ve paid off their mortgages and long-term renters who were paying below market rates could particularly struggle to get back on their feet. “Folks who haven’t had to really think about where they’re going to live next — who may have been living in, fortunately, stable housing situations for the last couple decades — are going to see a lot of sticker shock,” Lens said.
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