@Lou_Penrose_Radio - Buh-Buy Illegals, Hello Cheaper Rent!
Description
In LA, rent prices have fallen 5% on average since the peak in 2022 during the Covid pandemic. Reports suggest rent prices will continue to decline. Rent control has been bad for housing in LA. Vacancies have hit a record high of around 7% for several months, following a surge in property developments. In tandem with falling rent prices, reports suggest around 7,000 children are missing from the LA school system, likely related to the deportation of illegal immigrants. And with attendance in public schools dropping, classes are getting smaller, which means specialized attention and a better quality of education. In 1980, the average Southern California salary was $20,000 annually, and the average house cost was $60,000. Back then, people were able to save up the downpayment for a home. Now, the average salary in Southern California is $60,000 while the average cost of a starter home is $869,000, with 20% down.
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