google-site-verification: googlec7193c3de77668c9.html

LA fire victims fear new housing crisis

Advertisements

As the hillside communities burned, Los Angeles’s luxury realtors watched the housing market heat up.

Ms Heredia showed the BBC a database used by realtors to track fluctuations in rent prices.

Several high-end listings showed jumps this week; one home in Santa Monica promising “a private balcony overlooking the ocean”, which had been listed back in September, suddenly jumped from $29,995 to $35,000 on 10 January.

Ms Heredia said that some people were realising how competitive the rental market was and opting to buy instead.

There are no laws preventing a spike in the price to buy a home, she said, and individuals with the means wanted to move quickly.

Another realtor told the BBC she had also sent an email blast to clients, in case anyone was looking and needed help navigating issues with insurance.

Frustration with the real estate industry was palpable on Monday.

Ms Heredia and her colleagues with Coldwell Banker Realty had set up a tent outside an emergency center in Westwood offering a booklet they wrote called “navigating life after wildfire displacement”.

A volunteer, however, soon came over and asked them to leave.

“We just want to help,” Ms Heredia explained to the BBC. “Everyone’s trying to figure their way through this.”


BBC News

Views: 0

See also  Family seeks release of US man after failed Congolese coup

Check Also

Manhattan tower ‘stable’ after bent columns sparked evacuation | US News

Fears a Manhattan tower might collapse have eased after pictures of a buckled support column …

‘We don’t need anybody’s help’: Trump renews Nato criticism

US President Donald Trump has renewed his criticism of Nato, and said that he was …

US prosecutors arrest 24 in major probe into India-based organised crime

US prosecutors have announced the arrest of 24 suspects in the US, Canada and Europe …

Leave a Reply

Available for Amazon Prime