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A time bomb for renters: L.A. County’s cheapest apartments are getting old, fast
As the L.A. area grapples with an affordability crisis, local governments have a tightrope to walk. Should they enact policies to preserve crumbling homes and keep rents down? Or should they encourage upgrades to the aging housing stock?
L.A. County’s cheapest apartments are aging, and local governments must choose between preserving them to keep rents down and encouraging upgrades. My take: encourage the upgrades and build more. Freezing old buildings in place doesn’t protect renters; it protects decline. The power move: if you rent in one of those buildings, take this as your signal to plan your path to ownership now. — Eric Lawrence Frazier, MBA, Your Trusted Advisor in Business and Wealth
