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Old 04-12-2016, 10:25 AM
 
Location: Los Angeles
417 posts, read 647,316 times
Reputation: 140

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Your thoughts .. Is this the effect of $15.00 minimum wage ?


Sky-high apartment rents in Southern California are expected to climb further in coming years, as construction fails to keep up with population and job growth, according to a forecast released Tuesday.
The average rent in Los Angeles County is expected to hit $1,416 a month in 2018, an 8.3% jump from last year, while in Orange County, average rents are likely to rise 9.4% to an average of $1,736, the USC Casden Multifamily Forecast said.




Southern California apartment rents are expected to continue rising through 2018 - LA Times
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Old 04-12-2016, 11:24 AM
 
Location: La La Land
1,561 posts, read 1,989,211 times
Reputation: 2607
No it has absolutely nothing to do with $15 minimum wage.

It's simple supply and demand.
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Old 04-12-2016, 11:28 AM
 
4,797 posts, read 3,196,015 times
Reputation: 7257
$15/hr minimum wage won't be in effect until 2022. There is no correlation with rent. Too many people want to live here and there is a finite housing supply
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Old 04-12-2016, 11:39 AM
PDF
 
11,386 posts, read 10,462,544 times
Reputation: 6606
"LOL @ the people who pay crazy rent prices while I own my condo." -YoungTraveler2011
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Old 04-12-2016, 11:55 AM
 
234 posts, read 146,001 times
Reputation: 124
Quote:
Originally Posted by PDF View Post
"LOL @ the people who pay crazy rent prices while I own my condo." -YoungTraveler2011
Ok that was pretty funny
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Old 04-12-2016, 12:56 PM
 
Location: Los Angeles
417 posts, read 647,316 times
Reputation: 140
Will rent ever decrease ? Like gas prices lol
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Old 04-12-2016, 01:05 PM
 
210 posts, read 243,128 times
Reputation: 61
How do we prevent this from happening? At this rate I'll never be able to successfully move here on my own!
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Old 04-12-2016, 01:19 PM
 
Location: Downtown Los Angeles, CA
1,886 posts, read 1,389,101 times
Reputation: 2191
Quote:
Originally Posted by Dontworryboutit View Post
How do we prevent this from happening? At this rate I'll never be able to successfully move here on my own!
Stay where you are.
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Old 04-12-2016, 01:23 PM
 
210 posts, read 243,128 times
Reputation: 61
Quote:
Originally Posted by adr3naline View Post
Stay where you are.
Why do you and everyone else keep saying that?
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Old 04-12-2016, 01:27 PM
 
Location: TOVCCA
8,452 posts, read 11,357,104 times
Reputation: 12301
Quote:
Originally Posted by Dontworryboutit View Post
How do we prevent this from happening? At this rate I'll never be able to successfully move here on my own!
Rent a room in a house and scrimp until you can buy something. It's really the smartest move now.

https://www.roomster.com/location/los-angeles--ca
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