Wildfires have consumed businesses and homes across Southern California, destroying tens of thousands of structures in recent days. As displaced residents race to secure rental housing, demand has surged — and so have rental prices — prompting allegations of price gouging.
Los Angeles landlords are facing scrutiny as some renters report steep rent increases. In response, certain property owners say they are reacting to unprecedented demand from wealthy wildfire victims making aggressive offers to secure housing in an extremely limited market.
With an estimated 12,000 structures destroyed across Los Angeles County, many residents who lost homes and apartments are scrambling to find places to live. Online real-estate listings reviewed by MarketWatch appear to show rent increases as supply tightens and competition intensifies, raising questions about compliance with California’s price-gouging laws.
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