Video není dostupné.
Omlouváme se.
A Group of Los Angeles Renters Fight Back After Being Priced Out Of Their Homes
Vložit
- čas přidán 13. 07. 2022
- Costs of living have been surging across the U.S. with rent being up as much as 15% to 50%. NBC News’ George Solis has more on a group of renters in Los Angeles’s Chinatown who are fighting back after a 30-year agreement between the city and their landlord that kept rents affordable came to an end. » Subscribe to NBC News: nbcnews.to/Subs...
» Watch more NBC video: bit.ly/MoreNBCNews
NBC News Digital is a collection of innovative and powerful news brands that deliver compelling, diverse and engaging news stories. NBC News Digital features NBCNews.com, MSNBC.com, TODAY.com, Nightly News, Meet the Press, Dateline, and the existing apps and digital extensions of these respective properties. We deliver the best in breaking news, live video coverage, original journalism and segments from your favorite NBC News Shows.
Connect with NBC News Online!
NBC News App: smart.link/5d0...
Breaking News Alerts: link.nbcnews.c...
Visit NBCNews.Com: nbcnews.to/ReadNBC
Find NBC News on Facebook: nbcnews.to/LikeNBC
Follow NBC News on Twitter: nbcnews.to/Foll...
#LA #rent #protests
A Group of Los Angeles Renters Fight Back After Being Priced Out Of Their Homes
I find it ridiculous that rent is more expensive than paying for a home at this point
Kid your government also wants more money. Property taxes (literally just rent to the government) just spiked $500-800 in Los Angeles since last year and it'll go up this year too.
Cook County in Chicago had it worse with nearly %600 property tax increase over 5 years.
@@Misaka-gt5yj fetus, you're full of S.
My property tax only increases about $200 per year in LA. It was been consistent and doesn't double like rents do.
Its always been more expensive to rent. The cost of crappy credit. Seems backwards but thats capitalism.
Not if homes are starting at 2 million. The home prices in San Francisco are insane.
Rents are comparable to a house payment. 600k house is going to be around 3k per month which is close to what rent would be. For the longest time some analysts said it’s better to rent as you don’t have to do house maintenance/repairs. But you can bet those same analysts were probably home owners. All I know is my mortgage won’t go up as long as I don’t use my house like an atm.
My studio apartment in Burbank went from $840 to $2600, with most of that jump happening almost overnight. It's absurd. One of many reasons we moved away, out of Cali.
It's likely that the fair market rent is now $2,600. Seems like the demand to live there is much more intense than in years past. In years past a landlord would not be able to find a renter if he asked that much. Now, the demand is there so that's where the market is now.
@@spg5658 Thank you for the High School economics lesson. The DEMAND is there because the JOBS are there, but NOT the housing. The same thing happned to me in Burbank. Supply Side is not keeping up wih the Demand Side. I now live in Vegas. The last apartment that was built in Burbank in over 30 years was burned down by an arsonist in mid construction. Strange, wouldn't you say?
@@georgegant588 Well from the thousands of comments and news stories it seems that many folks do NOT understand the point in making about market demand. So it bears repeating.
It's Strong Armed Robbery
@@spg5658 The USA is 6,000,000 housiing units SHORT of the minimum needed. The Demand is there and so should be the supply in a FREE Market, but the Market is NOT Free, it is being manipulated for maximum profit and hardship, and this is happening across the country, not just California. 1) Biden's open border will add 8,000,000 more Residents that need housing. More Demand without Supply = more inflation. 2) Silicon Valley tycoons hold substantial Socal properties that are being intentionally withheld from development to raise the prices. 3) New York real estate investment houses, Blackstone and it's spinoff Blackrock are controlling forces that intentionally increase the cost of rental housing and therefore profits for their investors, in conjunction with their Silicon Valley associates.
I'm a Free Marketer Republican and would love to see this American "Cartel" broken up!!!
My heart goes out to these ppl. Our politicians need to do better
They are the ones causing this problem with zoning laws and refuses new building permits.
They did this to themselves
My heart goes out to the landlords who have not been able to evict nonpaying tenant for over two years! How would you like to have to support your neighbor and pay for their home heating oil or food for two years because the government told you you have to?
You betten Ya.
it is just supply & demand, goverment can only do so much; competitive free market & less regulation is just "good ole" capitalism
My landlord informed me two months ago that my rent would be going up $250.00 immediately. I contacted the office, and the office manager said that she had negotiated for all renters that it would only be $100 per month. She also informed me that my rent will be going up by a significant amount each lease renewal until I was paying market value, which is currently $1,700/month. Before the pandemic, market value was $850/month. I'm on a fixed income. I'm lucky my rent didn't double, like some folks have experienced. If my rent had gone up $250 immediately, I would be homeless.
If I were evicted, he could immediately charge the next renter $1,700/ month. It's a win/win for landlords and a lose/lose for renters. If I have to look for a new place, I'd be facing a monthly rent that I can't afford.
Something has to change.
The only thing we can do is to advocate to relax zoning constraints and build more houses.
Use that time to go look for cheap housing further a way.
When my rent went sky high many years ago I saved money lived frugally and bought my own place. I packed it with people and then bought another property. Now I own more than 1. Get roomates!
@jason franklin When my property taxes double, my heating and cooling cost have gone up 50% and cost of labor has nearly doubled, yes Rent is going up. I do this as an investment, not charity work!
@@kadentstructuraldesign9929 No it isn't. We can establish rent controls, seize buildings, spend some of that 200 billion more allocated to war to first-time home-buyer programs, cap profits by progressive taxation, there are soooo many better solutions than building more. In California there are 1.2 million vacant units. We could pass a law that prevents people from owning more than one home. We could occupy all of those second, third, and fourth homes of the rich. We can go on rent strikes.
They are killing us here in Colorado. How on earth can we come up with the prices they are asking? Companies are coming in a paying cash for these absurdly dumpy homes that they are asking $400k now. We are old and disabled. Living in tents is going to cause a lot of deaths. Have they no morals? It should be illegal.
They Don't Care!!!!
Cry on the WEF, they are causing this.
You're causing climate change for your carbon emissions as long as you are alive, they don't want that.
Rent moratoriums are largely responsible. The average landlord was left with being owed $27,000 per rental unit. With the moratorium now over they have to get that money back. So that largely responsible for higher rents.
The rent in Colorado Springs is outrageous. I absolutely agree. My son is a single dad looking for affordable housing for him and his children. I can only imagine rental cost elsewhere in Colorado.
@@riskyron1416 landlords are vermin. They hoard resources people desperately need. They don’t make anything or give anything of value. They only resource guard.
Another bad thing is these investors keep buying up the homes these people would have been able to buy. They seem to only buy up the homes the poor or lower middle class would normally be able to purchase because of their greed and dislike of the poor and lower middle class owning a home.
Exactly!!! That's happening in Atlanta and driving me to look further out into the country or another state possibly
Then they turn around and sell it for a price that only the rich could afford. They are purposely running the poor out because they have no use for them. They only want rich people who will spend more money in the community. All.about profit.
These corporate landlords out bid families/individuals by thousands SS and want those same families/individuals to rent their over price rentals. They can bid homes out of reach for the average homebuyer and still make us pay for it. It's not just one organization of corporate/Wall Street landlords ,there are many. That's why the government needs to step in.
They? Blackrock and Blackstone are the government.
No, it is literally the government restriction of zoning that it causing the shortage. Zoning laws make it illegal to build all but a few number of luxury apartments each year. Under capitalism, developers will build until demand is met and prices stabilize. Tokyo learned this lesson and relaxed regulations for development in the early 90s, causing housing to become dramatically more affordable as supply met demand. Even today, you can get a studio in the MIDDLE of tokyo for $600/month. Meanwhile, in the US, we continue to zone most urban land for inefficient single family homes, and even land zoned for apartments is subject to parking minimums, height restrictions, minimum apartment sizes, and minimum site area requirements that make it illegal to build small affordable units. I am tired of explaining supply and demand to liberals, and then explaining the need for more apartments to conservatives. Both sides are making this problem worse and it is mind-numbingly frustrating.
No the government needs to stop these huge funds from buying up everything people living should not be a business
@@lvbadboy” people living should not be a business “
Do you think all food production should be nationalized?
The HOAs lobbying is also to be blamed for the zoning laws. They want less houses to keep property value up and to prevent overcrowding.
Almost 68 yrs. old here and living in my minivan since January, on waiting lists for affordable housing..thankful for my old vehicle hope it lasts.
Rent control needs to go into effect. People need to eat, to have healthcare and yes, sleep indoors. Salaries aren’t increasing, food prices are up, gas is up. What’s wrong with this? Many of us are priced out.
Just capitalism doing its thing.
Talk about rent control, everyone needs to go to their congressmen in state capital. Really put on the pressure. This is where the heart is and rent control. I only know of one place that has rent control and that is in N.Y. Dr. Ruth has r.c. and not because she is a doctor, but she got in at the right time (as in the 50's), I think that means she owns it.
Exactly. Many are barely making it at all we need new. Laws against greedy landlords.
Have you ever heard of cost shifting? It's the same factor that made healthcare, academia, and now real estate so unaffordable despite the nation spending more than any other nation on those sectors. The push for rent-controlled housing is part of what ruined California’s housing market. Prices are high because demand has outpaced supply, but the limited supply is a direct result of local policy. When the government says, “Only X of these can be built,” that limits supply, increasing price. When the government says, “You can only charge X for housing,” then builders build office complexes instead of houses, decreasing the supply. Low-income housing works for the people lucky enough to get it, but these policies ultimately incentivize poverty while driving up the prices for everyone else.
Just like I have said buy a semi truck just 1 and youl make 25k every month taking hole 10k after paying fuel. People don’t see these options just regular jobs nahhhh become a owner and semi trucking will easy have your rent or mortgage payed in 1 day lol. Y’all need to wake up and get better jobs
I can't think of anything more wasteful than treating real estate like a bank. There are vacant apartments all over these big cities because no one can possibly imagine renting their apartment at an affordable rate.
When you are the owner of an asset, you get to decide what to do with it.
There is always a 10% vacancy rate: remodeling, selling and vacation homes. Just like there is always an unemployment rate - you can't always have everyone working.
Not one American citizen owns the land they are merely renting it. If you don't this so. Good luck 🤞
@@thejuicerr You think you own property lol, miss a few tax payments for a property you outright bought and see what happens 😆.
@@yourmomsspermdoner not my land
They have far too many people out on the streets of LA, already.
I hope this works or I'm screwed if I need a rental in my future. Rent increases to this magnitude is completely wrong. Save that money for a home or condo - Everyone!
How can they when everything is going out for the car, rent and grocers. See my answer from above, everyone needs to find that special program to help them get a decent or not housing, ownership.
go live in a affordable state
Buy together and buy during a housing crash! ;)
I hope this catches on we need to care for our retired folks
Retired Folks need to take care of themselves instead of all looking like Russel Crowe.
@@klausmkl have you considered not breathing?
Ask the veterans how much the government has done for them. There's your sign.
My apartment in new york went from 1850 to 2950! Landlords are shady people who cannot be trusted, we also found out before we were going to move that the building we were living in had rent stabilized apartments. Currently working through lawyers to get out money back.
I hope you get every cent you were robbed of!
Taxes and taxes - need I say more
It was the profession of our ex-leader. It's a dirty business that has been taking advantage for too long.
WTF do you want to live in the gangland area of NYC? Why? Stop complaining than. Time to move. Pick up your butt and move, move, move. I know of many tiny home communities in Oregon, California, Texas, North Carolina and Tennessee where the owners pay 1/3 to 1/4 of what you pay. Thus, time to analyze your situation and move, move, move and stop complaining.
I was going to sell my house to move back to NYC, but now when I see the rents, I'm staying right where I am. It's absurd what they're doing to city rents. The average 1 bedroom now is running around $5k a month, and for that you get a walk-up with dirty windows and graffiti smeared all over the front of the building, and they try to call the area ''trendy". Yeah, right. Bars on the windows like you're living in Alcatraz. I love the apts with a backyard space. Nobody mentions the rats that run rampant through those backyards at night. They give you a backyard square of dirt and suddenly the rent is now $7200.00 a month. Are they crazy? People that can afford that rent, do not want to live in converted railroad room tenements, so who's going to rent these hovels? To rent an apt now in NYC, your income has to be 40 times your monthly rent. Good luck with that !!1
I’m glad I decided to buy my home back in 2004. Never wanted to worry about rent and always thought of rent as a big black hole people throw their money into - no return. The landlord makes out
Exactly, I bought my house then too and MAN oh MAN...I'm glad I did!
Property taxes are doubling, ask Floridians..they are losing their house becuz the mortgage co requires property insurance that has now tripled or completely canceled becuz the insurance companies are leaving Florida OWNING your house is not a guarantee that you can afford skilled workers as you age and repairs need to be paid. Supply chain problems if you cant get a furnace or roof materials..Even with my paid off house I would not be boasting about it.& sounding .like other people are stupid..too many variables in one's life.
@@KC-dr3cg very true. Been thru that and your exactly right. I feel sorry for retired folks who worked hard for their homes and are getting taxed out of it.
I believe you are right. Mikael, they have a good deal to buy a first time owners in cali. Yes, I know, No, don't go there. I lived there for 11 years and I'm ready to buy out there. My jobs were always extremely good. But, I was in a troubled marriage, where everything had to go HIS way, or else, plus he had the worse judgement. So, I will be on my own, and loving it.
@@KC-dr3cg I agree. I never knew repairs could increase property taxes and overall property worth costing more in the taxes when the whole area is considered high value. I learned this when those home improvement shows raised the value of their homes. Many was a combo of bills and taxes to the home that forced them to sell. A woman I heard was selling her home because she can’t afford the taxes and repairs. She said something about moving to an area with a lower cost of living. I found out it is no longer affordable around where she plans to move. Idk what happened. But the property taxes are forcing people to sell their security of housing.
There’s no need for landlords to increase rent that high but greed
Rent moratoriums are largely responsible. The average landlord was left with being owed $27,000 per rental unit. With the moratorium now over they have to get that money back. So that largely responsible for higher rents. Two years of lost rent. Yes there is a valid reason for those increased rents. They are not in business to lose money and have their own expenses as well.
Not true, some landlords themselves are “renting” their property as well and money comes from you to them to who they rent it from. But even if they weren’t renting they need to rent market price or lose money, if it’s market price then not one landlord is in the wrong But the entire market.
You guys should investigate the transitional housing scam . The city and officials are basically funding for contractors to build "transitional housing ". Then the developer agrees to lease it to the city . Once the lease is up they keep the units. So they don't pay sht for construction and get free apartments .
Like LA, average housing to homeless costs the taxpayers $135,000 a year. Government and people working for it making huge profits.
As common greed continues to run rampant in America's housing market, more and more people are "homeless". That word is the cause of the increasingly dangerous crime rate in a nation that just can't seem to figure it out
... yet.
The more poverty the more crime.
So the landlord wants the city to make vouchers and pay the higher rent for the tenants?... Cheaper for the city to buy the building.
Have you seen the market rate for real estate in LA? It would only be cheaper if the city seized it for well below market rates. Otherwise, it is a money loser.
Of course he does. He wants the taxpayers to subsidize his greed.
This seems to be a smart move every city could adopt. Including rent control and specified assurance that the buildings will be very well maintained, forever. Oh, and a green space too.
Dream on hahaha
Easies said than done, or it wuild have been already done. Americans aren't stupid, just shocked and broke.
Rent control is a great way to reduce supply and make the problem even worse.
@@thejuicerr No need to dream. We're coming for what's ours. Don't get in the way
@@pacificalliance3782 What exactly are you going to do?
It's a scary situation for all. I lived in LA, it's a common sight to see 2-3 families, full families, living in the same apartment unit so this 2-3 families can split the rent cost by 1/2 to 1/3 the regular price. But many are doing it in secret because it is unsanitary to house that many people in a 3 bedroom apartment. Same goes for houses
They aren't doing it quietly because of sanitation. The landlord can charge more for more people living in the apartment. An extra two families, rent would likely double. Even with rent control, this is allowed as more people just moved into the unit.
Landlord is allowed inspections. They come by in the evening when all the families in the apartment are home.
@@donaldkasper8346 most places require 24 hour notice by law and stipulated in a lease
@@NadiaSeesIt You give notice and inspect the apartment. Correct. Evening when they are all home.
I lived in a apartment for ten years and my landlord only raised my rent one time and in by twenty five dollars. I kept up the property and mowed my on yard. I cleaned the gutters and did what I could to keep the property up and I paid my rent on time. This is what landlords need to take very sincerely because if you have a good renter and pay on time and not destroy the rental property do what you can to keep them. If these renters are paying their own utility bills then why would you charge more rent. My utilities were not included in my rent. These landlords are trying to use inflation to get richer. I would find a place to rent and sign a deed that my rent would not go up for so many years I live there. This should be a law with landlords so they get behind on their careless spending and decide to raise the rent to pay their personal bills they accumulate on not handling the money they get from rental properties. I had this to happen to a friend of mine where the landlord filed for bankruptcy because lived in a house he couldn't afford and owned a expensive vehicle. He lived like a millionaire but was no where close to having that much money. I ended up buying me a home and my house payment was cheaper than my rent. Why put thousands of dollars in rental property instead of purchasing a home that will be yours someday. I paid rent for almost twenty years and that would have bought me a house that would be paid for.
Time to move. Pick up your butt and move, move, move. I know of many tiny home communities in Oregon, California, Texas, North Carolina and Tennessee where the owners pay 1/3 to 1/4 of what you pay. Thus, time to analyze your situation and move, move, move and stop complaining.
When an owner buys a property, it is theirs to use as they please. As nice as it would be, not all landlords can avoid increases in rent. Some tenants tear up the rentals and a person has to have a way to modernize and repair units after each turnover.
The real problem is that you didn't buy a house 10 years ago. You could of been paying your own mortgage and not your landlord's. Also would of had plenty of equity but now.
Move to terre haute Indiana rent is cheap here compared to other cities. 500 to 800 dollars for a one or 2 bedroom or an. Older one story house with a yard. You pay your own utilities though. Some of these extremely high rents are what I live on for two or 3 months. I don't understand why the have.s don't want the low income. Disabled or elderly people to have a place to live.? It is so cruel to treat our citizens that can least afford it. This way but yet they don't want the ho
Less living in the streets either. Whatever happened to having compassion for all people?. Instead of society only caring about richer eople without low income workers. In a week. The grocery stores and all services. Especially hotels restaurants. Gas stations. This country would shut down so fast we need to strike against all places raising rents an ungodly.unaffordable rent it mMes me so mad that these rich evil landlords are just out to screw the poor people. Let the rich people. Live in tent on the sidewalk and see how they like it. We all need each other in so many ways. We should want to be kind and reasonable landlords not treat other humans like dirt .oat role can't make thousands of doll are for the new rent hikes. I hate greed it works against man mind and their well being. Their should be new laws made about how .uch any landlord can raise your rent to exorbatent prices. Get mad people sue the cities mayor or vote out your worthless congressmen. ND governor s. Sho don't help people keep their places they rent. Every one needs shelter. It should be a right just like health care for all should be.
>purchasing a home that will be yours
Lol ok you lost all credibility the moment you said that. Let's just say you did manage to pay off the mortgage. Try not paying property tax and see who actually owns that home. No one in America owns anything. Your government owns everything and you are just paying annual rent to them.
The fact that there is such thing as “affordable housing “ all housing should be affordable. If you work or have an income you should be able to afford a roof over your head. This is crazy!
As a very "small time" landlady, who rents single family homes, I would point out that, while in some cases, greed rules, for those of us who struggle to keep our rents affordable, and thus have small profit margins - the price of maintenance materials and services (lumber, paint, plumbers, electricians, heating equipment, etc.), property insurance, and property taxes, have all risen. In an appartment, utilities are usually paid by the owner, rather than the renter, and the price of gas & electricity have also risen. A 50% rent increase sounds greedy, and probably is, but some increase is probably necessary - possibly more than 10%.
@Phil What do you care about?
I’ve never lived in any apartment that included utilities other than water
I’ve never rented where they did all those improvements in a year, if ever. Also luckily where I live utilities have not gone up nor property taxes, when they do go up it’s modest. Also never rented where the owner was responsible for utilities.
@Trinacria Nelcuore yes, any smart business person would do so. If it’s costing you 2K to pay for the mortgage and upkeep of the unit, why would u rent it out for $1500, find a new renter who will pay market price.
Renters just wanting a Free Ride. Case of the Participation Trophy generation coming to fruition.
There's no profit to be made by building low cost housing. Almost all new construction in Austin, for example, is luxury grade. You have to rent far outside the city center and then have soul killing commutes and gas expenses. At some point people should unfortunately move to cheaper areas.
The mini California of Texas. Don't you love what the Blues do? Lmao
Because of so much greed that is running so rampant in our communities today. Perhaps the Government should step in with an offer of tax deductible incentives, or raise the taxes specifically for landlords and use the extra money to help aid the renters. When Landlords increase their rent, I believe the Government ought to increase their tax rate
This is American greed. They call everyone else "communist" but pure American capitalism is evil.
This is ridiculous. Yes, there are bad and greedy landlords. But a great many landlords are just trying to keep up with the cost of insurance, taxes, maintenance, and still have a little left over to supplement retirement. Many even depend on that rent to pay their own bills. Why don't you blame the Biden administration for their failures which created this economic chaos.
You do realize that in most cases of this is because the taxes have raised
@@antoniocorvino7687 Since we are face with extreme high volume cases of homelessness, perhaps the Government should step in and not only monitor these landlords rental increases, but offer more tax incentives that would create a balance rather than an excess. That way we all can WIN!!!
The greed comes from landowners who don't want new housing built in their neighborhoods.
this MUST happen nationwide...stand up NOW or lay down later...on the ground!
My rent increased from 935 to 1370. I live in Las Vegas. People say its not that bad due to living in the Summerlin area. But I tell people that's not the point. The fact that they increased it by so much is some BS. We pay month to month now so that we don't have to stress about the rent increases every year. So we just need to continue to save and save until we can afford a home of our own. Rent control in larger cities need to happen.
The outcome of rent control is that owners stop renting and sell the units as condos and the management is the association that maintains it. This means less units on the market over time.
How I'd love to hear a news report where Vets, seniors, elderly, low income families were cared for with reasonable hearts of kindness. Greed will never allow it.
Artificial price ceilings create deadweight losses. Rent control only makes things worse.
I lived in a more upscale expensive apartment in OC but the price was still crazy when it jumped went from 2580 to 3334 a month. The previous year I had a decrease of 10 dollars a month and a month free.
I rent a 7 bedroom/5 bath house with 4 car garage on 23 acres for $153 a month. Had I not voluntarily raised my own rent 5 months ago it would be $133. My electric is $12 to $15 a month and water/sewer and garbage is $5 a month. Cellphone $3 a month and high speed unlimited Wifi is $12 a month. But then I left the US 9 years ago upon reaching retirement. Just dropping Medicare B pays all the home expenses as well as the $60 a month for 100% Coverage with National Health Care for both wife and self. Even $800 to $1000 a month here would be like having a $6000 a month income in the US.
@@riskyron1416 which country?
@@riskyron1416 cool story
You can’t seize someone’s property bc they refuse to rent it out at below market rates. That’s insane.
In the People's Republic of Communist California you can!
That's LA.
@@Tania-rg7jp So the city can just seize someone’s grocery store and give all the food away for free? I don’t think so. The building’s owners should sue. They probably want to avoid paying massive legal fees, but they’re getting hosed.
Look up Imminent Domain. It’s legal in EVERY state.
@@christopherdaniels2117 It’s eminent domain, and that’s not how it works.
There's no reason why rent should be more expensive than a HOME. There's nothing alluring about spending 3x a mortgage, to live packed in like sardines.
Everything is going up EXCEPT the minimum wage. Advocates against raising the minimum wage argue that would cause prices to rise. Well most prices rise naturally. Just talk to a parent or grandparent about how much things cost back then. Yet the Federal minimum wage which hasn't been raised in over 10 years is an embarrassing $7.25/hr. Richest country with slave wages.
That's why it is the richest country on earth. Slave labor.
Over 2 million ppl in the USA do not have access to indoor plumbing or running water in their homes. A large population of them live in old school apartment buildings in San Francisco. There’s a great CZcams documentary on it.
My pension goes farther in Mexico.
God can stop 🛑🛑🛑 everything, so move where you can afford and it is safe.
I moved to Querétaro, Mexico at 79.
USA is too deadly and expensive.
Move folks out of the USA
God can stop 🛑🛑🛑 everything, so move where you can afford and it is safe.
I moved to Querétaro, Mexico at 79.
Jr
@@judithgrace9850 what?
@@judithgrace9850
Shut up 🤐
@@judithgrace9850 Buying property in Mexico makes it harder for the locals to afford to live in Mexico, which is just repeating the cycle of what's happening here. We need to fix housing in the US.
@@stancooksj Housing doesnt need fixing. Getting an education sets your future!
We need to start protesting these landlords and these companies like open door and zillio That price people out of there homes .
No, you need to find your own housing. In a free country, we have what are called private property rights. Its simple, pay what the OWNER wants, or buy your own house. Imagine going to another country and demanding that they support you. Shameless insanity.
Furthermore, whats pricing people out of their homes is the inflation caused by the criminal congress printing fake money, making it worthless while increasing taxes.
It's not your home when you rent. It is only your home when you own it.
@@by1310 👏👏👏
You need to learn how to spell.
About 5 years ago we were renting a 3 bed 2 bath apartment in Boise, Idaho for $850. We left the area but recently learned that a 1 bedroom 1 bath apartment in the same complex is now renting for $1,700 a month. If we were still there we'd probably be homeless. Is it the goal of landlords and investors to make everyone homeless? Is there some law that says they MUST raise the rent to "market rate"? Just how far can they push it?
The problem isn't with owners being able to charge market rate, as they should be able to. The problem is that the houseing market isn't a "freemarket". It's being artificially constrained be zoning laws to keep the supply low in order to keep existing housing expensive. If this country had a functioning housing market, developers wouldn't have their hands tied in order to meet actual market demand for houseing, the available supply would be much much higher, and therefore prices would be much lower
Stop complaining than. Time to move. Pick up your butt and move, move, move. I know of many tiny home communities in Oregon, California, Texas, North Carolina and Tennessee where the owners pay 1/3 to 1/4 of what you pay. Thus, time to analyze your situation and move, move, move and stop complaining.
@@angellosmalefakis1321 I already did move. I mentioned that already. It's somewhat cheaper but rents are rising fast here too (Oregon). It costs money to move. Many people just don't have any. Why so nasty?
The real problem is that you didn't buy a house 5 years ago. You would have been insulated from price increases and built plenty of equity.
@@thejuicerr Oh gee thanks. I never would have guessed that.
They might use eminent domain to help these guys but the genie will be out of the bottle and soon, they will eminently dominate is all.
The state offered incentives to developers, low interest loans if they would keep some of the units affordable for 30 years. Times up! Now they can charge market rate. A deals, a deal. For the city to take this property thru eminent domain would be way more costly, than to just subsidize the tenants rents.
They bought it already
This is so sad
Glad to be a home owner . I pay the same price every year
But your taxes increase every year based upon newer higher evaluations.
@@riskyron1416 property tax is like 1%
If my house went up 100k in a year it would only be 1000$ increase in property tax payments
The issue is that these ppl that rent can’t afford a home or be approved for a loan, these ppl aren’t choosing to live in the dirtiest of apartments cause they don’t want to be a home owner…? 💀
@@Timothee_Chalamet_CMBYN exactly people are so foolish
These INCREASES are affecting home owners and buyers, ......INCREASED property taxes, utilities, water, repairs, maintainence, etc...
You are seeing the backlash of the government interfering with a free market by Implementing an eviction moratorium and giving out free money. It was a very tough situation. On one extreme if people were evicted rents would have dropped like a rock. The moratorium was too long and too much stimulus was given out.
What I'm seeing is the result of a very successful social conditioning project, just look at the comments. Everyone is cheering on the government seizing the guy's property in the name of "the people." This is a socialist takeover, that's what's happening. "You will own nothing and you'll be happy." - WEF
And you have solutions for the tens of thousands of homeless we would have created? Or do they just wait it out on the streets with the rest of the homeless?
@@willieverusethis Everything would be just fine if we had done the sensible thing and ignored the virus. The death count would be about the same, but we wouldn't have been thrust into inextingiushable debt.
All they did was kick the can a little down the street. With prices rising those that didn't or couldn't find work will go homeless or move to a more affordable state. I agree, the shut down shouldn't have happened. After a few months we had enough data. Wear a mask, keep your distance, wash your hands, and should have opened it up 100 percent.
@@hoppingrabbit9849 QE as well, but more like dilution; much of that money was created at the moment it was borrowed, and realize that the vast majority of countries "borrowed" from the bankers, so the effect will be worldwide. One of he worst parts about the fractional reserve system is that when money is created, an interest obligation is created as well, however the money to repay the interest doesn't exist, so _more_ money needs to be created (borrowed) to pay it off. Basically, it's a rigged system that (given enough time) ensures that the bankers will own all tangible property while everyone else is saddled with unpayable debt.
This was a huge victory for the international bankers.
It's all about GREED ! Landlord's and property owners.
Some people say we should change zoning laws in order to have higher density housing. What those guys don’t realize is that housing is tied to your school district. We just don’t have enough schools and teachers to absorb more people per unit area.
Then how about you increase the supply of teachers and schools instead of putting an artificial and pointless bottleneck.
building more classrooms for the school. Most schools have a lot of vacation spaces. They could use those vacant spaces and build more classrooms.
That's not how math works. The kids and their teachers already exist, we just want to make their neighborhoods more dense (which implies more schools per square mile.) The number of teachers/kids doesn't change
We don’t have enough teachers right now, so how do you propose we increase what isn’t there??
@@elizabethjames5928 that’s not what I was talking about. You said their aren’t enough teachers to absorb the extra density, but density is a function of people per area not total number of people. So densifying doesn’t make anything worse
As long as landlord have to pay the property tax of current housing prices they deserve to be paid fair market value
Just got notified that my rent increases 40% in Maine. I'm already in the slums. I have no where else to go.
I used to live near Bangor and was looking at different houses and couldn't believe the increase there. There aren't that many jobs there that pay what some of the renters are asking. Houses in my old town are selling for 300k plus I was like what r u smoking lol. Hopefully you can find something though best of luck to u.
Nicaragua where a 2 or 3 bedroom house rents for $80 to $100 a month. Room and Board is available for $40 a month.
Iowa
ELECTIONS HAVE CONSEQUENCES!!!!
Miss his mean tweets yet???
It’s going to get worse before it gets better. This is absolutely a result of the Democrats and their policies.
Democrat city
Democrat state
Democrat Governor.
YOUR Vote matters.
YOU ASKED FOR THIS
YOU DESERVE THIS
YOU VOTED FOR THIS.
And the borders are wide open with millions walking across making problems much much worse.
Correct. Are we a get my feelings hurt easily society? We're the mean tweets about you personally? If you name was not mentioned in the tweets, don't worry about it.
If you can't afford it, then don't live in the highest cost places.
Tell that to an 80 year old that's been living in the same apt in their hometown for 15 years
@@willytompkins8115 I already did.
I can just picture some rich guy rubbing his hand together. laughing as he doubles their rent.
I hope the city buys the building and turns it to low income….but if they don’t the landlord has the right to charge what the apartments are worth today, not what they were work 27 years ago. You can’t live in LA for $800 in 2022.
How is that even legal? You can't take someone else's property just because you think they're charging too much? I feel sorry for the renters and the landlord shouldn't raise rents that much but it's not against the law and it's his property.
welcome to communism. It's all about to break.
They didn’t just take it. They bought it from the landlord. I think that’s perfectly fair.
@@theoblongbox4909 not if its a forced sale.
@@theoblongbox4909 By using imminent-domain they are forcing the sale. How would like it if the government forced you to sell an asset?
Yup, if they don't get a price they like tough.
This is just greed on the part of owners of the complex, greed will be our downfall.
It's not their homes....
when people like warren buffet are looked at for what they do not how big of a pile they have and are not allowed to buy housing like mobile home courts to raise the rents and all housing is no longer just business things will change. 1 thing that could be done is if a owner of a building wants to sell it they must sell it on contract for deed to those who currently live their for a market price not determined by real estate agents but reality then people will be looked at as more valuable than money and greed.
Housing and the rental market should be tightly regulated, it's time for government to step in. Greedy landlords who jack up rents should be required to compensate their tenants. They are not playing by the rules.
I sold my condo in LA since it is too risky to rent out. I don’t like government deciding what I can charge and not being able to check tenants credit and criminal history. I kept rent very affordable and it’s not worth the risk. Most people I know sold their units or keeping them empty.
Anyone renting? Planning to buy in a couple of months but I have been wary to rent from condo owners. They can hike up the rent anytime.
Credit worthiness & back round checks are not abandoned just because a potential tenant is a voucher holder.
My mom kept a beautiful 1600 sq.ft. apartment in South Pasadena vacant so as to not deal with covid scammers.
@@YA-qj8fx There a great tenants out there with high paying jobs and integrity such as myself. You just have to find them. Sadly I have found LL to be very greedy when they find such tenants. Suddenly the rent is $500 more because “Great Tenant” is doing well and can afford to pay more. Their loss!!
I guess a bunch of renters could get together and buy a building from the landlord and then they could become the landlord and see how expensive repairs and taxes might be
Excellent idea
It will be cheaper because they won't include the cost that the landlord pays to themselves.
@@austincde ,
They will be responsible for the real estate taxes upkeep water bills
Should the Landlords be able to increase the rental rate and still keep their same tax rate? I think not! The Landlords are winning on both ends, all while pushing their tenants into homelessness
aint landlord's fault. Go make more money or move to lower rent home. Period. Move away if you cant afford
The CPI (9.1%) affects everyone, including landlords. The cost of maintenance has skyrocketed. Everything from materials to labor is extremely expensive and in short supply. You have to look at both ends of the spectrum.
@@thejuicerr Since the CPI increases OVER TIME, why all of a sudden has the CPI increased all at once? You've also gotta take into an account while landlords are busy creating increases, it's also important for the landlords to take into account that their businesses cannot function /operate without it's tenants.
@@thejuicerr Are you also saying that when the supply of demand decreases and so will the rental also decrease?
@@lisaingram785 The CPI is on a year-over-year basis. Rental lease agreements are typically one year. So after a year when it's time to renew your lease the CPI has already ran its course. The landlord obviously feels that there are people willing to pay more. That's a gamble the landlord has the right to exercise.
Politicians talk about homelessness and try and make it look like their helping but their not get rent prices down that’s the only way to curb homelessness
If they can steal his property then I can steal someone's car or dog.... NO DIFFERENCE!
That's what this is really about. The government wants the power to take away your business.
I hope the city and landlord can work something out. Altho the landlord is ridiculously raising rent, I don't feel the city should be able to take it away period.some increases are needed with taxes and exspenses are increasing and the renter's will bare the burden, double the rent is way over the top called greed
Just because you can, doesn’t mean you SHOULD: but what else would one expect living in hyper capitalism where exploitation is legal? They have…no shame.
Yes, leslie, just beause you can , doesn't mean you should. But, you are blaming it on exploitation of capitalism, just like when a couple gets married, you should be faithful, and try to be the best mate for your other half, but just because you can have affairs and don't get caught, should you. Well, my brother is doing that, why shouldn't I? No reason, unless you want to face, the sequences, someday!
2000.00 for. 2bedroom here in Austin! I work a min wage job! This is ridiculous!!!!
I understand these people need a place to live but eminent domain and take away someone’s apartment that they paid for I don’t think that’s a viable option unless they want to pay the landlord what he wants the city just doesn’t wanna pay his price
The video description doesn’t make sense. “Renters being priced out of their homes”Renters don’t have homes…This is all supply and demand. Force the local/state governments to relax on permits to build apartments/homes. Government is to blame not the Landlords.
Indeed. Back in the 1900s and 1910s, before regulation, there were plenty of cheap tenements for people to live in.
Renters don't own houses. Wherever you live is your "home."
@@YA-qj8fx yeah keep telling yourself that.
Price gouging
Yes sir
A lot of this has to do with city councils who voted to limit new building of residential properties which has led to housing shortages. They claimed it would keep communities small, but it just made a shortage of housing which spiked prices.
100% Their neighbors did this to them. LA is deficient by 400,000 properties (as per NPR reporting) because of NIMBYism and red tape. Contractors don't even bother trying to create more housing in the city. Hence, low supply.
@@barthur8417 as per npr reporting 🙄 u try to sound intelligent and educated but the fact that you can't see how this will back fire on yourselves is astonishing
There is absolutely no good reason for rent to be that high. Minimum wage would have to be over $12 hr just to cover rent.
Minimum wage in L.A. is $16.04.
It already well over $12 in LA
You would have to make 65k to 70k just for survival (rent, gas, electric, food).
Occupied properties make money compared to vacant properties. I'd rather leave rent low and keep someone in there rather than have empty properties costing me money.
And that's exactly what will happen
Not true. Occupied properties only make money if you can charge enough rent to pay the property taxes and maintenance. Otherwise, you eventually lose the property due to back taxes. It's much better to have a vacant property than to have some person paying $1100 a month. $1100 a month won't even pay to have a house painted at the end of the year (something required by law every so often). Everyone wants to live in nice areas, but no one wants to pay.
@Scooby Doo how is it more profitable to keep units empty?
@Scooby Doo Absolutely. This is one of the most scary and ignorant comment sections i've ever seen.
@@dauntlessleodragon Are you serious? It was just laid out to you. If you have someone in there using your property and putting wear and tear on it while they aren't even paying you or paying so little that it doesn't pay for the maintenance, then it is more profitable to keep it empty. At least you aren't as much in the hole that way.
Here my building which is a independent living apartment in southwest Atlanta has had rent increases since June of 2018 where rent has gone for a one bedroom from 740 a month to 900 a month even with a HUD subsidy voucher, and the area rent for a one bedroom is now 1114 a month if you are working full time. Seniors and persons with disabilities are seriously getting squeezed in terms of available housing here. In a lot of cases our social security check is it there is no other income so after you pay for rent there's close to nothing left. Sometimes you have to decide am I going to get groceries this month or not? The worst part is that a lot of the people that are buying property and driving up the rent don't even live in the city or even in the state. They are just looking at it as a way to make profit for themselves or their investors and they don't care about anyone else
Yes. That's true. China buys up so much of America's property they own most of the country now.
Maybe the interest rate of their mortgages went up. Maybe the property taxes went up. Maybe they had to pay special tax assessments. You don't know.
Sounds like you're on the wrong side of the coin
Our landlords clear about a million in profit from our large apartment complex in Ca, they just raised our rents again (as they do each year) by $200.
Yea, while the city raised the property tax this year by $800. Use your brain.
Who paying it if the rent is so ridiculous
I work for minimum wage and have always struggled to get by so forgive me for being indifferent in 2022.
Go get a worthwhile college degree
well these latinos need to at the least get a job, get a roommate and stop being bottom feeders on the public coin
Nahhh foo.....jobs are the suckers esse
So don’t be a deadbeat and get a job to pay your rent like everyone else does!
I was living in south central and every month the rent was 100 bucks more. I packed all my stuff and moved to Nashville and it was the best decision.
God can stop 🛑🛑🛑 everything, so move where you can afford and it is safe.
I moved to Querétaro, Mexico at 79.
I heard a lot of ppl moving to Mexico and having a better quality of life.
@@jasonphilips4731 Yeah, until the cartels come around.
@@NecroDeath Or stay here and worry about school shootings, shootings in grocery stores, shootings in broad daylight, etc.
Querétaro.Mexico is safe.brautiful..and not as expensive as the USA or deadly.
Well, you need a job still,so.....
Good! People in trailer courts need to do this as well!
Saved money for many years and bought a house in 2015. My $1,200 mortgage hasn't gone up in 7 years.
So you come here illegally, don't learn English, and expect taxpayers to take care of you.
when you live your life without saving or planning it will be hard and tough as you get older.
Exactly. You know what's interesting? The public school system does not teach this. I wonder why? Could it be planned demise of US citizens? All the while, they teach critical race theory, genderism, hate America 101, hate white people 102, and trans theory.
Developer for this low income apartment complex had a deal with the city to keep it low income for so many years. Once the term was up, owner could sell it based on rents being market (thus at a much higher value). The renters pushed law makers to extend the low income ordinance thus even if the owner would sell the complex, he couldn’t get the value based on market rent.
Most rental complexes are not in low income category therefore when new owners wants to rehab the building and kicks renters out, there isn’t much renters can do. They do have the right to come back to the rehabbed unit but at a much higher rent.
I wonder how old the building is, if it's more than 15 years old it should fall under the state rent control AB1482.
@@V.E.R.O. Any building after 1982 is not under rent control. This building doesn’t look like it was from the 70s.
@@Tania-rg7jp no they don’t 😭. I use to live in one and it got remodeled to a high end apartment and charging way more, I wasn’t entitled to anything
The landlord in most cases does not "rehab" the unit. They just make up the price for the same crap.
If you’re paying over 1000 in rent you need a home not an apartment that’s crazy.
In New York, there’s no such things as a $1k apartments. 1 bedroom will cost you about $1500+
Rental price gauging must be pass.
Renters need a union!
Why won’t the government issue section 8 vouchers to the remaining low income tenants? Probably because the tenants are 1) undocumented 2) Their income is to HIGH to qualify. 3) tenants have not applied. 4) the time to get approval is to long…
It looks like the city is willfully attempting to make the landlord look like a villain. This is not the landlords fault…
Thank you
It appeared from the reporting that the apartment complex was already receiving subsidiaries from a government program for these tenants, the 30 years just ended.
RENT IS CHEAPER IN MEXICO.
It's fascinating that many people feel they are owed things, then they use the government to take from others. The building owner has the right to charge market prices, and for this building, it actually does (at least close to it) if you add what the government pays in terms of the vouchers. These people actually applaud the idea of government taking private property for something clearly not in line with what eminent domain is used for. It's easy when it's not their property being taken. Like a lot of things these days, the focus is on the wrong thing, and far too many substitute emotion for thinking. The media naturally takes advantage by selling this story in a distorted way ("fighting back") - part of why the media is not trusted. You know what can happen if the government takes this building to "reallocate" it to others? Owners of such buildings can sell their property to others who can possibly demolish the property and turn it into something else. Who would want to own such properties if you're forced into financial loss? People often overlook the fact that owners have costs too. Then you'll get less of these properties because the government will take it, then you'll end up having even less housing. They'll have a combination of less housing supply and poorly run government housing.
Rich Republicans are going to take advantage of it and Jack up the price on everything.
Ya after they got there tax cut that we all payfor
Rich Republicans ???? You mean rich politicians. Do you really think there is a difference?
Our government for the people by the people is no more. It is now a government for the billionaire by the millionaire. Term limits for all of them.
@@plusorminusandtime there's a big difference the republicans are the biggest Liars that walked the face of the earth and don't tell me democrats do the same I don't care about the bull Fox News puts out.
@@tommy5367 HAHHAA Have you noticed that both parties is just the uni-party pretending to be at odds. The millionaires in congress from both parties do not can about the average American. That isn't fox news but the truth. Stop pretending there is a difference. VOTE ALL THE BUMS OUT.
@@plusorminusandtime Fox News has never told the truth what a Joke.
The market dictates the rent, not landlords! It’s the market. Ask yourself WHY the market is doing this. What is the reason? Increased demand obviously…WHERE is the demand coming from? This is ECONOMICS 101.
That can be said about war profiteering as well. There is no intelligent being named "market" that decides to double the rent. The landlord does. Just because he can do it does not mean he must. Blaming this kind of thing on an abstract idea is why we are in this mess.
@@willieverusethis People are in this mess because they never bought a home.
Then you refuse to pay. No one is forcing you to pay the rent.
A group of Los Angeles renters fights back after being priced out of its homes? There comes a time when people must complain AND take action.
And the owner of the building has been losing money all these years because of the agreements with the city
These property owners don't realize that once they evict the tenants, no other tenants are coming to rent!!!!! It's too high for anyone!!! The type of people that could afford it would never rent in the first place because they own their own properties...so at the end of the day the only real loser's are the property owners... instead of getting $1200 a unit they doubled it now they get $0 a month for trying to be greedy .. SMH so dumb
Yet people are still moving in and paying the higher rent.
just because you use a ton of exclamation points it doesn't make your post factual.
@@barthur8417 No, what I said is facts .. when you find out that all these rich people aren't coming to rent your properties, your gonna beg your old tenants to come back for the original rent amount 😂😂😂😂 prepare to be humbled because you wanted to be greedy
@@dauntlessleodragon That's a gamble the landlord has the right to exercise.
@@thejuicerr and when the landlord looses that gamble, the tenants they lost, have the right to laugh at you ..get ready it's coming 😂😂😂😂😂😂😂😂
To bad NBC getting it total wrong. CBC did a half hour on this down in New Orleans. They found that house who use to be month to month rentals. Now there air bnb rentals. They found that a lanlord can rent the same unit for 4 days and make the same amount as if they had a monthly lease.
These ads longtime residents who have been there for DECADES. Did you kiss that part. There needs to be a balance between commerce and basic decency. I worked in downtown LA managing rental properties for years and we never needed to double or triple rents, and we certainly took in enough to pay each owner $20k per month, each.
Not only them. All of us! 😰
How is this possible that the rents are going up globally? This is a huge problem in Europe, Australia and USA and I bet that everywhere else also. Who is driving this decision of making the whole globe homeless tent camp? In pandemic?
Fight! Fight! Hold them accountable hold local state government accountable 🗳🌊💙 Shame on the USA!!!!
It may be time to make housing a basic human right and a utility as well. People should have access to affordable clean and tidy housing.
Tell me you are poor without telling me you are poor.
@@ehren5347 People should be healthy, clean and housed without having to be rich. That shows true civilization.
Over 2 million ppl in the USA so not have access to running water or indoor plumbing- a large number are in San Fran living in old school apartment buildings that keep breaking down
@@larsonfamilyhouse That figure is disturbing 😳
💯
I understand rent is an issue for many across the country right now, but using imminent domain to buy the building and save the residents is as short-sighted a decision as they come. Setting that kind of precedent would discourage would be investors from investing in those communities. Why would anyone invest in affordable housing for LA when they would be forced to sell that same housing? This is not the way to go about it. If what the landlord is saying is true, the section 8 voucher process needs to be streamlined and the renters need to be educated on how to use it.
Those outside investor don't care what happens to the people they price out so why should we care about them being uncomfortable to invest somewhere 🤔
@@vante2129 bc those investors are who build the buildings. If they don't invest, more affordable housing cannot get built. Sure, maybe the city can build some more, but not to the scale that multiple investors can. If you take that away, housing stays expensive bc supply never increases, bc investors don't want to build an apartment building that's just going to be taken away from them.
From California to Texas we have incompetence leading our local government. Every business wants low-pay workers but few cities want to adequately zone for low-income housing. Corruption abounds! Why do we have Democrats and Republicans again?