Updated: Dec 31, 2019
It was recently indicated in the media that rent in the Los Angeles area has increased 65% in the last 10 years. So my question for you is? Has your pay increased 65% as well? If you work in retail as I do you likely got a 3% increase this year. Your 50 cents or 1.00 will not outpace your rent. The California Association of Realtors say that building more housing is the answer. The truth is that there is not enough land to build locally. and builders really don't want to build lower cost housing. Given a chance of building a $400000 home or a $700000 home, they would rather build the 700000 home , and pack it in with a minimal yard, not to mention installing an HOA which drives up costs.
So why should a landlord get a 10% or 5% raise if you only get a 3% one? I had the experience once of renting in a triplex; the owner sold and the new landlord raised the rent 30%
Rent Control...is needed. What is your solution?