Big rent increase hits California tenants
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- čas přidán 31. 07. 2022
- Erin Myers reports for the KTLA 5 Morning News on Aug. 1, 2022.
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It amazes me how easily this state always finds a way to screw hardworking people and families over.
Always. Unless you're a Bezos, you have NO chance. None.
Well how about you buying up some properties and rent then for low $$ ? Should be an easy moneymaker no?
Breaking news....it's not just CA .
@@bobroberts2371 what are you talking about. Most of these rich folks bought when real estate was normal. They are are jacking rent up so they can buy V8 powered SUV's, go on unlimited vacation and to spoil their children so they can have an easy life.
@@treehugger1640 So why didn't you buy property when it was " normal " ?
Wow they must want everyone to live in tents in the streets ⛺
Of course! 💪😎🤟 Gotta squeeze every last penny. After that, they're simply waiting on organ donation once it's all over. Simple statistics.
Greedy landlords
@@rons5319 Then why are you not buying and renting property at a low $ ?
@@bobroberts2371 are you not smart ? Housing right now is over priced.. not a good deal. You must have inherited wealth because you are not smart at all.
@@treehugger1640 If real estate is overpriced, then the high rent can cover the purchase price. If the rent is too high and in large supply, the price will go down. This is the way supply and demand works.
"Everything must go up due to inflation! Except wages"
Doesn't make sense. When do we go on strike?
@@seriousbroski As soon as we can afford it..it's the way the system is designed, if you go on strike you lose your house, your car.... they've got us by the balls...😫
@@who7835 😭😭 they really do
@@seriousbroski Don't cry, I'm here for you😋
@@who7835 thank you😊💜💜
Through out California is too damn expensive. Taxes is ridiculous, roads are horrible.
In my part of California, janitors are paid $26 an hour. Yes it's expensive, but.
@@exfolios all you're doing is justifying 808fbi's claims about ridiculous taxes.. the more you make, the more they take..
If you set the rent too high, people are not going to flock to your building, they're going to move out or move away. What are they going to do then? I'm seeing more and more camper vans/busses and when I ask them the reason for the change, the answer always includes the cost of rent and utilities. One couple works while on the road and spends about $800 a month for everything including internet. People are not just going to kill themselves working trying to make rent, they're going to find an alternative path, even if it's homelessness.
Just like New York City xD
Yes exactly people think those who are homeless are always junkies. No. Homeless people have changed. I was working full time and was homeless with my children because I couldn't meet the eligibility requirements of apartments. 3x rent plus a huge security deposit.
No, they know some people will be stupid enough to pay these rents each month.
Pay $4000 a month and have a nice view of a homeless tents outside your door.
😂yup! K-town.
Yep, because rent is 4000 a month lol
@@pmsTriix 4k a month and homeless tents outside your door.. that's San Fransisco.. RIGHT NOW.. it's real, it's legit, and it's happening.. a landlord here in Vegas even tried raising their tenants rent to something close (I think it was $3895/mo or something close to that)..
My rent increased about 12% every year on the same Franklin Ave apt between 2013 and 2018 when I finally moved the heck out of California.
Great! Stay out if you can’t afford to live here.
@@TheIcecoldorange If you can't afford to live here then move. If not for you then do it for your family.
@@TheIcecoldorange are you from Colorado?
@@TheIcecoldorange I hope it catches up to you too, don't take your current financial situation for granted. Life events can cause you to be in the other side of the coin VERY EASILY.
@@SaL-ep7zb it’s called capitalism. You can’t afford it. So you don’t get to buy it. Are you a commie? Get out of cali. We don’t want peasants here lowering our property value.
LET’S SHUT DOWN THE ECONOMY!
what could possibly go wrong?
What could happen ? People default on their home loans and prices will go down.
@@jerrybnasty5115 I dunno anything about the flu except good 🤞 wash hands, wear face mask as a reminder of why you shouldn't touch your face with your hand.
Bring recommended to #drewi1 was a blessing after years of suffering I have finally been cured
if we could get the 1% to adopt the currency used by the Union in the Orville, this world might have some renewed hope.. people would be so much more willing to work with and/or help others and no one would be looking at how they can scam, exploit or otherwise take advantage of someone..
Let's open the border and invite a bunch of criminals in what could possibly go wrong
One-bedroom soon for 3 families sharing
It might be affordable to have 8-12 people living in a single house. Any less, and they couldn't possibly break even without being Bezoses.
Already here. Every home has many autos out front.
Soon...😁Illegals have already been doing this for a long time.
Most neighborhoods with apartments!! Good luck finding a parking spot lol 😂 they have all packed in like roaches 🪳
It’s about a 1k per bedroom now and you’ll be in the hood.
Average home 3-4K or more a month. So you have to make 3x that amount like 9k a month idk who’s making that kind of money.
Homes in Compton selling for $250k smh
Plenty of people make that and more
@@thejuicerr you are blessed then brotha🙏
@@thejuicerr the average household income in the US is 79k and that’s between 2 people, while the median home price is 480k and continues to go up, not to mention 58% of Americans live paycheck to paycheck stop talking out of your a$$
For 1 bedroom it's like 1500 to 1600 and 2 bedroom
Is 2500 It's like that everywhere.
CALIFORNIA IS WAAAAY OVER RATED AND OVER PRICED.
I keep saying it don’t matter if you make more money at your job all they gonna do is raise the cost of living like rent
Exactly. And EVEN IF wages scaled equivalently to costs of living (they do not, nor have they ever), it wouldn't be enough.
If you're not making THOUSANDS on residuals every month... it's over. Dunzoh, sunzoh.
@@Novastar.SaberCombat some people Can’t even retire
Time to leave CA?
Like how properties are still going up yet we're in a recession
3 months ago, I submitted 5% increase to Section 8 and was rejected. What did they think about the inflation? I resubmit and if it's rejected again, no more business with Section 8.
Dude, you do realize people on section 8 are there for a reason, BECAUSE THEY CAN'T AFFORD HIGHER RENTS YOU DUMMY!! Duuh!! Why the hell would think otherwise!?? Can't believe people are this ignorant.
Also no more consistent government checks 😜
10% of 2000 is 200, 200 a month wage increase every year doesnt happen, so still unsustainable.
do you understand the difference between maximum and minimum? cause your comment suggests you're looking at the 10% /yr as a minimum.. Minimum is $0 increase per year.. Maximum is 10%.. so every year there is possibility that rent won't go up at all, or will go up no more than 10% from last year..
If you still NEED to live in Cali after this, then this is where Buying might just make more sense in the long run..
Lots of people were born in California...
And families here…. if you’re moving here to make it from back east or chicago you better be in tech or making over 100k because this isn’t the 80s when you get a house for 150-250 k studios apts in average working class areas are going for 1200+
@@gunplaygaming6830 studios are about 2000 a month here now too...
@@mdhall04 here??
@@gunplaygaming6830 yeah in LA,SD and sf. Rent is too high every where
Ok, rent is increased 10%, inflation is “so high”, that means salary is increased 10% as well, right? Or there is no logic in this world anymore?
Back in the day! Communist Russia saw all of this coming! Believe it or not!
nope.. wages have gone up maybe 3½%.. rent ~12% on average across the nation.. yet the inflation we're currently seeing is closer to ~40% as prices have nearly doubled on most everything..
@@KremitDeFrog : Read or study communism in depth!
My rent went up 155.00 recently! This is suppose to be affordable apartments Washington state! 💥
I rather blackmail the landlord with incriminating photos than pay higher rent
LOL....People like you are why renters have such a bad reputation!
@@kendallevans4079 you have a problem with people paying low rents... I get it. 😂
@@treehugger1640 As a kid my very middle class parents bought a 6 unit apt building. My Dad did almost all the ,maintenance while my Mom cleaned the units after the slobs were finally evicted. They bought this as in investment and kept it for over 30 years. Do you think we OWED the tenants anything? These people will look you right in the eye and lie to you, steal from you, destroy what is NOT theirs. Does this sounds like you and the cretins you call friends?
@@treehugger1640 remember when slum lords were like "perhaps we can make some other arrangements" 😆
Bring recommended to #drewi1 was a blessing after years of suffering I have finally been cured
OWNERS OF PROPERTIES WILL BE VACANT EVENTUALLY, THEN THEY WON'T BE MAKING ANYTHING
Somethings gotta give. What are they gonna do when absolutely NO ONE can afford these prices? What's gonna happen when too many of us are homeless? When are we gonna stop letting foreign companies buy American estates?
For every 1 of you that can't afford to live here - there are 3 that can and will stay. Maybe you should've picked a better job/career or just leave since you can't afford to live here. You are not entitled to living wherever you want, go live where you can afford to.
Why anyone would be a landlord in California is beyond me. Rent control, eviction moratoriums, endless regulations. What a joke.
Democrats in charge, crime through the roof, ridiculous cost of living, horrible traffic, homeless people everywhere. I grew up here and it has really gone to hell the last couple years
Yep
So you mean to tell me it was glorious when Schwarzenegger was governor. Please stop lying to yourself. It was just as crappy, expensive and crime ridden.
@@nikkibb1998 No it wasn’t because the governor can’t make laws, the rest of the CA govt was democrats and still is.
@Nicole Bradley yes!!! It was better.
Pomona is clueless on how much maintenance and repairs have gone up.
I dont see how inflation has to do with rent! Its just greed
How would landlords recoup the rent lost over the past 2 years? How about you buying property and renting it at lows $ ?
This is why we should replace one of those useless history classes in high school with a money management/economics class instead.
To put it simply, if the costs to do business (and rentals are a business) goes up, the owners will raise rents to recoup the increase. After all, they are in the rental business to make money, it's not a charity. Costs increase include insurance, property taxes, costs to replace appliances, costs to hire plumbers, electricians, carpenters, HVAC techs, etc. to repair the rentals. That's just the tip of the iceberg.
@@bobroberts2371 how bout you stop spamming nonsense you dont know anything about, this is pure greed, im a landlord and own 2 duplexes and a condo, i can tell you right now, EVEN with inflation, my mortgage is nearly the same, the only thing that went up a little bit is my home insurance and property taxes , but still not enough to justify gouging tenants for maximum %. Stop being a greedy slumlord and show some compassion, but i digress, maybe you are part of the problem with landlords giving ppl like me a bad rep.
@@alexl.8748 Are you in the CA market spoken about the vid? Are your rents 20% below market?
Have any of your tenants refused to pay during the virus, how would you cover that? Have you looked at the price of building materials in the past few years, how are you going to cover that?
If you go to sell your properties are you going to sell below market so as not to be greedy?
@@bobroberts2371 Bob, based on your post about economic education I thought you might accept a little Economics 101. The price of anything is determined by the point that will clear the matket of supply. The price of rent in a free market is based on the highest rent someone in that market is willing to pay. Think of it like a cattle auction. Say there is only 1 cow for sale, and 10 buyers. In that case how will the free market decide who gets the one available cow? It's the buyer that's willing to pay the highest price right? It's not based on what the sellers costs were to raise the cow or bring the cow to auction. But liberals will argue that the price needs to be based on some other criteria besides the buyer that's willing to pay the most. The buyer that deserves it the most perhaps? The buyer that has the most hungry children? The buyer that's the oldest or has the most disabilities? In order for any of those outcomes to occur, government force is required. Why? Because the seller wants the most they can get for their cow. They resist being forced to take a lower bid from another buyer. But in that case, the buyer that was willing to pay the most also gets screwed, because a lower priced bidder, who wasn't able or willing to pay the most got the cow instead. Ultimately, the problem is an insufficient supply of cows right? The free market fixes that insufficient supply via higher prices. Higher prices result in more profit, which attracts more supply from sellers trying to chase that additional profit. Which results in more cows being available for sale in future auctions. More cows available will result in lower prices for the buyers. But all this government intervention into the rental market reduces supply, which causes even higher prices at the next auction. IOWs, you can't create lower prices by screwing over sellers. The market will always find a way to reach equilibrium no matter how many rent control laws and eviction moratoriums government tries to impose. What's laughable is when government decides to give the nine loosing cow bidders more money in an attempt to fix the problem. All that does is bid the price of the only available cow even higher. It does nothing to solve the fact that there is only one cow, and 10 buyers. There is still going to be 9 unhappy buyers no matter how much money government throws at the bidders. At least for this auction. Bottom line. If the government's intervention, whatever it is, isn't going to increase supply going forward, then renters aren't ever going to get what they want. Which is lower rents and no rental shortages. But yes, you are 100% correct. Economic literacy would help this country immensely. Is it by design that it's being withheld? I believe it is. Because leaders want power and control. And selling the snake oil of socialism gives them that.
Bruh this is how clean, drugs and alchohol free people end up homeless. This is how theres 5 families living in either 3 or 2 bedroom apartments
Its crazy because the prices of everything going up but not the pay scale at least not enough to off set the increases of everything else so you actually end up being in a worse spot then before...
that means more crime and more homeless
They are over charging the elderly rents... over 10 percent.
Please look into this.
The elderly are on fixed income.
Please help
All American renters will soon need a Housing Voucher to afford rent.
In one form or another, everyone is experiencing an increase of cost of living. For example, my HOA has increased our HOA dues by 20%. I am now paying $544 per month on HOA dues. This is in Santa Ana, CA.
Though my wife wants to stay in California ,I mentioned to her that if the price of everything keeps rising the way it is ,we may have to leave state. I first came to California from Alaska in the late 70's, I don't mind Cali, exept for the way things are run.
I used to think these rent laws were very helpful and they are better than nothing but in my city if you get a 2 bedroom 1 bath for 1500 (and that's cheap) it go to 1650 next year, 1815 the following year and 1996 in the 3rd year. that's insane.
Being a senior, mine was increased 2x in 2021 and over 10 % and again 13% in 2022. Even though the complex is given funds by the county. Go figure. Soon seniors will be in the street.
I've been saying it for the last couple of years, the way the US is going, it will be commonplace to see elderly people dropping dead in the streets or on the job, and it will be normalized just like Gen Z will be working full time just to live in tents or cars for most of their adult lives, selling their blood plasma on the side.
How much will we allow the ultra wealthy owner class to normalize while they tell us to work harder and be grateful?
@@cosmicllama6910 you got that right. Every year it is changing for the worst. Seniors never meant anything . Since most of us do not pay taxes , we don't count. What a disgrace. Other countries are NOT like this.
Moratorium rob landlords what do you expect when gov let's renters steal? Sad
@@mikeshoemaker1909 you make no sense
@@mikeshoemaker1909 get a real job
How many of your representatives do you see fighting for you so you can stay in your apartment's. Why aren't they saying no you can not raise rent to make our citizens suffer. Where are they?
My rent is still the same from 10 years ago. I guess my landlords aren't greedy ? Cause I don't see any reason for it to increase anyways.
Rich people increase your rent so they can go on unlimited vacations or spoil their children.
You're most likely on rent control. I'm the same. The minute you move out, that same apartment your in will double. Don't kid yourself. Your landlord wouldn't miss an opportunity.
@@alextogo8367 my landlord bought this place in 1996 for 179k. The mortgage payments are super low. What the heck is rent control ? Hahaha
My rent is basically paying off their house.
I also live in a historical downtown neighborhood in orange county.
@@treehugger1640 well wait till the landlord sells the property. You'll be moving in a heartbeat
@@alextogo8367 they aren't going anywhere. Why would they ? Their house is almost paid off and have best so cal location
@@treehugger1640 cause they can sell it for a massive profit. More than they ever will with your current payment. You just said it. A nice location. Either way good for you. You lucked out.
Can someone intelligent explain this to me in layman's terms? I live in Long Beach, California, I've my rent has remained relatively cheap, for California, over the past 3 years.
I have no idea what any of this means? I'm so sorry to ask, but what is rent control and should I be worried?
I’m leaving first chance I’m trapped here
We need much higher mortgage rates to put a big dent on housing market in order for rent to come down and help the poor. This is insane. Mortgage rate was 18% back in 1980. This is where it should be. Fed Reserve needs to be abolished as well...they're doing more harm than good.
Higher mortgage rate is not going to make rent lower it's going to keep the poor renting and make rent even higher.
There are just too many idiot landlords who signed adjustable mortgages they couldn’t afford during the housing bubble. The ones who barely avoided bank foreclosure in 2008 are now forcing their renters to foot bill for the interest hikes.
Dam shame crime going up for sure
DON'T RENT WHERE YOU WANNA LIVE, BUY WHERE YOU CAN AFFORD.
Sad inflation causes everything to go up but income
Here in the Niagara Peninsula, my rent hasn't gone up in three years. These increases would be illegal here.
The fact that people aren't protesting is surprising.
They're really just going to take this? Huh... strange.
Hard to protest against something you willingly voted for🤷♀
Yeah things go up with inflation including the homeless population.
Everyone is going to end up outside
Hahah 2,000 a month to live with homeless get out of here 😂
Pack Ur bags....
They government allowed rental increases because it believed that the median income has increased. That is ludicrous because inflation is over 10% percent and my income increased only 1.5%. This government is getting crazy.
🤫 Shh. There are a lot of Renters with "Extra" Guests living in the Units.
Sounds like a living hell.
@@rons5319 it is straight hell
Because of the high inflation, The States or City should assist tenants to pay for the landlord's rent increase instead of having the tenants bear the burden. After all, it's them who allow such an increase.
And they can increase property tax to get the money to pay for it lol
So you think other taxpayers should pick up the tab? Too many leeches already in California, thus, this is part of the problem. Get out if you can't afford it. California is just an overpriced slum, anyway, so you won't be missing anything worthwhile.
The landlords have to deal with increases too. Tenants aren’t the only ones paying bills.
@@dcg590 landlord knows the risk in such business deal. I have no sympathy for that.. but i do have sympathy for regular folks that need a place to live. Not folks who have 1, 2, 3 or more extra properties.
do you want to pay more taxes? cause that's where State and City money comes from..
And so it beggings the destabilization 🤦🏿
You don't have to pay your rent in la
Hi rent? Time to build bunk beds.
600$ for 1600 square ft in ohio. Sucks to be you
The level of demand to live in Ohio vs California is night and day. Not even close. Demand for California is extreme.
There is a shortage of over FOUR MILLION housing units in USA. Prices will come down only when builders catch up.
This is happening in my city too and I don't live in California
It's a year later bro did anything change I know it's not easy but maybe if you can move somewhere else try to save money for it
I’ve been a Democrat for over 40 years until the biden in administration. I will never vote for any Democrat ever again no matter what I have switched over to the Republican Party. Thank you democrats
Did you get your nazi armband?
So you voted for all of this mess for 40 yrs and now you switch? Too late bud this country is too far gone. Expect entire USA to resemble CA I mean Mexico
a bit sad a presidential term changed your mind.. it wasn't the child sex trafficking? the Clinton death pools? the Communism being introduced through their party? For me, I gave up on the democratic party when they failed to comprehend what a democracy actually is..
Thank you for the switch sir.
my rent has been increased every year for 10 percent even during covid lock down
Greed greed greed.
How is it greed if the landlord is only raising rent to current market rate. The demand for rental units has exploded over the past two years. When demand rises that much prices always rise. That's Economics 101. Not complicated. Happens in every industry not just housing.
@@spg5658 Greed also drives the market.
@@TheoneGodfather No. Sorry. Maybe you have never studied economics but if you do some research you will see that supply and demand always drives prices. Same for cars, jewelry, hotel rates, air fares, etc etc. Why wouldn't a landlord charge what the market will bear ?
Look at cars, for example. The demand for a Tesla is so extreme they can charge $90k+ in some cases. VW could never do that. Demand is much weaker. It happens in every industry.
@@spg5658 No I’m definitely not as learned as you. I’m sure you have phds and dhls and whatever, but to deny that greed plays a part makes you a fool. Perhaps you don’t realize greed exist.
@@TheoneGodfather Greed has been around forever yes but I think the statistics will prove that these landlords are actually just raising rents to the market rate for that area in 2022. If you look in Harrisburg, PA you will find much lower rent due to lower demand. I think certain cities have very high demand.
this is what causes the homeless population to grow is greedy landlords increase the rent for no reason at all.
And when people who are struggling to work to afford a place to rent I think that the people of California should take these landlords to court and sue them for needlessly increase rent and some will say it's to maintain the the apartment...no they just want more money for nothing and especially when there are apartment complex that are decades old and have little to no upgrades to them. This is where I support rent control in low Income areas because it's difficult enough when wages have been stagnant for years. And inflation doesn't justify the increase either this is why a free market capitalistic economy makes it harder for normal working class people to put a roof over their head and for necessity for living like food water and power to keep warm. This is a instance where government should intervene and pass legislation stopping this pointless increase in rent
yeah... Texas is looking better and better
Texas is not the answer. California greed is already there too.
Girl please shut up about Texas every time you Texas brag it's coming your way soon
Bye
You need to watch the movie IN TIME with Justin Timberlake.
10% maximum allowed by state law.. well at least they have rent caps.. that's better than renting in Las Vegas..
Vote these people out
You guys need new b-rolls...That Westgate Apartment in Old Town Pasadena @0:38 was completed years ago...
I live comfortably fine here in the great state of California. I have investments that supply my needs and wants. The real secret is to invest in 8 ventures because you don’t know want disaster may come upon the land. Most people have most of not all their eggs in one basket and that’s where the mistake it. Example: if you’re the bread winner at home and something unforeseen happens and you get cut from the job market, then what?
So true every one will leave I already know
2k for a 2 bedroom home 2 guarage in Cudahy ca
This is so cool 😎 this is how you know that America 🇺🇸 isn’t owned by Americans. They want us to feel their pain. 🤕 But the kicker is this now that it has become impossible for us Americans we cannot flee to their country and get help like they were able to get from our country. 🤣
I mean, there was a big drop last year due to COVID. Now it's back to prior level
A big drop in what?..
@@nsFana Rent. Work from home meant people leaving cities. Me and my friends all scored nice apartment deals, 1 month free, etc. It should be expected that rent would rebound at some point.
Rent strike
Abe Forman? Its he the Sausage King of Chicago? Abe Froman
I STILL HVNT RECEIVED MY CA RENTAL ASSISTANCE PROGRAM!!!
POO lousey! HEY girl... looks like you need to volunteer and pass out some tents!
All the rich people are running to Texas . The poor people should go too
The super?😳
Jman
Good for California
It's not worth living in California. With he increased crime, inflation and many other issues. You can be doing much better somewhere else.
my mom should me a rent stub from 2003 i lived in the hood of budlong an imperial vermont ave!!rent of 300$!!!
And you want to bring in more people?
I love the political geniuses of the comments section complaining that Calif rent control isn't tough enough and that Larry Elder would have made it tougher!! 🤪🤪
this is why people get robbed and killed
Rent control and rent regulations must go. It's all a scam to take more money from the little people. It's not a cowisodent that rent went way high as rent control was established. I know for a fact that land lords are being charge alot for rent control and its regulations. Why arent landlords being interviewed, so they can tell you the truth.
I would gladly take 10% in Las Vegas once your lease it up they can double your rent if they want, we have no rent control :(
I am so grateful for the landlord I have. I think the problem is greedy slumlords and property management companies that only care about the bottom line/bottom dollar; and not the actual tenants.. Been renting a house since 2015, lease has been up since 2016 and we've been month-to-month since.. I saw a rent increase in 2020 of 16%, and in October, I start my second rent increase which is only 3.45% more than what I'm currently paying.
Then you hear stories where landlords are trying to impose daily fees totaling just shy of $8k /mo.. never been happier that I'm not in an apartment or at the mercy of a property management company.. in 2020, he had a property manager recommend a 48% rent increase; and when our landlord told him that was unreasonable to ask us to pay that, the next suggestion was to terminate our month-to-month to replace us with tenants that would pay the rate they were discussing.. I'm so grateful my landlord is a standup guy with compassion in his heart instead of greed..
You have not seen any thing yet
Gentrification
Some of you basically got free rent for over 2 years. Private owners got screwed because of the rent relief program. What did you think would happen?
You have no idea what you're talking about
@@Jramirez93 Nope, not at all. You got me and know me so well.
@@Jramirez93 Care to expand on what you are talking about?
@@bobroberts2371 inflation, housing shortages and corporations buying up properties at a premium for the sole purpose of forcing people into a rental versus owning is the problem. This coupled with landlord greed, compounds the problem.
@@Jramirez93 So why are you not buying property and renting it at a low $ ? How about getting together with a bunch of others and buying property?
Enjoying your life in the wonderful state of California?
Ha! Ha yea increase increase 🤣🤣🤣
Gas tax this year, food, rent and you about to be layoff from your job due to recession.
Actually no. There are over TWO open jobs now for every one person looking. Unemployment is 3.5%. Anything under 4% is "full employment".
Tired of seeing all these out of state plates. Locals only.
You can thank Rent Control and the Rent Relief Program for this.........brought to you by the Loving Progressives!
You wanna blame progressives for covid too???
What rent control? Rent has been out of control for decades.
@@rons5319 The state / govt regulating how much rent can go up IS rent control. Rent control removes the incentive for people to build rental properties, this increases the cost of existing properties.
@@bobroberts2371 The state's building and subdivision regulations, fees, and moratoriums are exactly what has increased RE costs. That and the Fed's ZIRP, QE, and general money printing.
Or how about be thank Wall St for causing the crash in 2008 and ever since making it more expensive to get capital to build enough housing to meet demand?
i think they want us to leave california lol #1 for murders crime and high rent lol 😂
Wow
more homeless are coming get ready
Don't worry California has free health care for illegal immigrants!
What does that have to do with anything that’s irrelevant it’s all the people who demanded more pay from fast foods and minimum jobs all across California rent was already stupid crazy for years all these high rises in la being built and taxes being implemented on the lower class instead of the rich is where the problem is tax the rich not the poor
@@David-nh8gg It's Completey Relevant because Sacramento doesn't have It's Priorities in order!
That's the least of the problems. The Gavin nuisance is wasting 1.3 billion dollars building a train to nowhere.
👎
If the building is less than 15 years old then the landlord can raise the rent as much as he wants.
are u serious.
@@maryrose7712 Yes. That's the law.
@@hoapres Thank you😇🙂
10% is not a big increase. Everything has gone up 10% relative to expenses. Did they forget that there were probably no increases for the last two or 3 years? And probably some didn't pay rent at all. Limiting to 3% is not a good idea.... unless you want more rundown buildings less maintenance, and less rentals in general because soon it becomes not worth it.