New York and San Francisco have long been infamous for their excessive housing prices. Now, Los Angeles can be added to that list.
Compounding the problem in L.A. is the continuing conversion of once-impoverished areas into new, more affluent neighborhoods. The individuals and families who used to live in those sections of the city have been forced out into even worse dwellings like converted garages, because that’s simply all they can afford.
“They’re bottom earners living in a high-priced housing market,” said USC professor Dowell Myers. “The L.A. market’s messed up on so many fronts.”
Image via flickr/kla4067
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