Despite regulations against price gouging during catastrophes, a recent analysis by a tenant advocacy group reveals a significant rise in rent prices throughout the Los Angeles area after Southern California's recent wildfires.
As the number of homes destroyed in the Palisades and Eaton fires increased into the thousands, campaigners expressed concern after observing listings on the real estate site Zillow grow substantially more than the 10% legal limit.
According to a UCLA research, Black Altadena residents were disproportionately impacted by the Eaton Fire.
According to The Rent Brigade report, “landlords engaged in widespread rent gouging, with our analysis identifying 1,343 instances of illegal rent increases totaling $7.7 million monthly.”
According to the survey, the number of rent-gouged houses in new listings in Venice, Malibu, Hollywood, and West Hollywood was among the worst.
"This is a classic case of disaster capitalism, where avarice thrives during a crisis, leaving displaced people and tenants in precarious housing to suffer the most from exploitation," the report said.
Advocates for tenants urged law enforcement to act quickly to hold violators responsible.
California Attorney General Rob Bonta said Tuesday that a second real estate agent had been prosecuted with trying to price gouge a family that had been evacuated because of the Eaton Fire.
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