"Landlords and real estate agencies are jacking up the rent on houses as demand outstrips supply in fire-torn LA."
"As the Los Angeles area fires rage on, tens of thousands of people are left displaced. Those who lost homes to the flames are scrambling to find new or temporary housing, but face a massive barrier: Many listing prices on the market have shot up—by a lot.
Last Tuesday, California Gov. Gavin Newsom declared a state of emergency, which bans any rent increase above 10 percent for the period of the crisis. But a number of news reports found this week that asking rents for homes have skyrocketed across Los Angeles County—sometimes by as much as 86 percent. With focus on a new wind and fire threat issued for today, government enforcement of “price gouging” could be problematic.
Jacking up the rent to meet surging demands is a common and often illegal practice after climate-fueled disasters like fires and hurricanes. For Los Angeles, specifically, a fire-squeezed and pricey rental market could exacerbate an existing housing crisis and further widen the gap between the rich and poor in the city, experts say."
Kiley Price reports for Inside Climate News January 14, 2025.
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