Costs of living have been surging across the U.S. with rent being up as much as 15% to 50%. NBC News’ George Solis has more on a group of renters in Los Angeles’s Chinatown who are fighting back after a 30-year agreement between the city and their landlord that kept rents affordable came to an end. » Subscribe to NBC News:
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#LA #rent #protests
A Group of Los Angeles Renters Fight Back After Being Priced Out Of Their Homes
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Probably not going to work out for the renters… They are completely wrong about morality….
How is this possible that the rents are going up globally? This is a huge problem in Europe, Australia and USA and I bet that everywhere else also. Who is driving this decision of making the whole globe homeless tent camp? In pandemic?
I hope they win their case.
But…but…lyin-biden and the corrupt dems said they would take care of them. They're taking care of them alright! Live with it, fools!
I am a renter, I am 50 yrs old an I just wanna say I had to learn that I am borrowing a shelter… for a fee.. that fee is decided by the owner of the shelter… They owe me nothing
What you voted for liberals.
The fact that there is such thing as “affordable housing “ all housing should be affordable. If you work or have an income you should be able to afford a roof over your head. This is crazy!
It's all about GREED ! Landlord's and property owners.
It’s hilarious how California screws up everything they touch and in the USA 🇺🇸 government has no place doing eminent domain to take apartment complexes. California is like a communist country!!!
You live in California, home of half the nation's homeless. A blue state through and through and why is this phenomenon news? Seriously. It's the most expensive state in the US.
There is a deep secret trail to the reason of this hike !
You fkers voted for this… The dems hate you,,, this is what you got… Enjoy it.. Trump would've helped you guys 😆 dont expect joe to lift a frail finger.
None of us no were in USA 🇺🇸can afford it
What do you mean fighting back, this is what the President your state backed wanted? How dare you fight back you voted for this and now you're crying, and we are not even a half a year in you people are worst! Not Responsible for my actions Party is what the Dems should change it to.
So many in the comments are talking about the landlord being greedy. What they are not talking about is that there was a 30 year agreement that required the landlord to charge lower than market rents. That is why the increase is so much. Not because the new rent is "unfair" but because the prior rent was well below what it otherwise would have cost. Can you imagine how much money that landlord has lost over the last 30 years? I feel bad for the residents, especially the guy who has lived there for 26 years and will have to move. But come on. He got a deal for 26 years. Now the deal is over.
Have fun being homeless like the rest of us. Pfft a little to late they don't care about you lol. What getting on the news will stop the eviction? You need affordable housing laws
I mean the city don't care about affordable housing. The landlord gets to set the price to whatever magical number comes to his head an we have to pay it period.
But you will own nothing and you will be happy!
Stop letting foreign investors and banks buy homes in the usa…. there are plenty of homes in the usa…
From California to Texas we have incompetence leading our local government. Every business wants low-pay workers but few cities want to adequately zone for low-income housing. Corruption abounds! Why do we have Democrats and Republicans again?
I think the source of housing problem is government needs too much money for wars. House price was reasonable before Afghan war. Government needed more money, so it pushed house price up by lower mortgage rates, allow banks to lower lending standard. Then those policy backfired in 2008. 4 years later, government still needed a lot money so it restarted house price push. Then here we come to this situation, too many homeless, too many people can not afford a house or rent. Houses should never have been a tool for government to earn extra money to offset its spending.
Do you know why rent keep going up? Conservatives who refuse to put a cap on it. Democrats would’ve put in rent control
And you know why there aren’t enough affordable homes? Conservatives again.
And of course these problems are what’s causing the homelessness problem. Yet it is also conservatives who complain about the homelessness problem.
It’s like they expect the poor people to disappear, there’s nothing in them whatsoever that recognizes these people must go somewhere.
This resembles the feudalism of old Europa. And this was something the founders DID NOT WANT.
Hoe do you know that? They gave everyone equal rights bc they understood the rich always takes advantage of the poor. They gave the poor thd power to prevent this exactly, a scenario where they are advantaged and thd poor are so poor life is better dead.
How do you know they didn’t Wang this again? They gave rich elites, who in old Europa all the power, the same ONE vote as the poorest person.
So understand every conservative policy, designed to create classes of people are unconstitutional.
People fight back
ALL charge offs to the Government. They already have a majority Sec 8 and still believes someone owes them.
So if they keep raising rent and we can’t pay all these properties about to be vacant basically. Make it make sense
This is ridiculous, these are good people struggling. Whatever or whoever’s fault, the economy is already too bad to ignore. Am I the only one wondering what the government does besides take your money and tell us what to do? Lack of transparency leads to speculation.
We need to do something about this! This is not fair to the working class!!!
2000.00 for. 2bedroom here in Austin! I work a min wage job! This is ridiculous!!!!
There's no reason why rent should be more expensive than a HOME. There's nothing alluring about spending 3x a mortgage, to live packed in like sardines.
They should add more roommates. They have a culture of living peacefully with three generations in one house 🏠.
LA is paying people to be homeless
That’s why I left California last week I couldn’t afford the cost of living let alone the price of gas in Cali is up to $6 to $7 when Wisconsin is $3 which is a big difference when your paying over $1,200 a month smh
The government ONLY pays rent for ILLEGALS!😖
Will they live on skid row?
Keep investors out they the devil
I am no Trump supporter but I am not voting for Biden again! This really is a lot of this administration’s fault!
Biden proposed lower no-tax for real estate reinvestment to 500 grand and below and investors, pension funds,BlackRock started dumping all their high dollar properties and buying up middle class neighborhoods! There for making rent sky rocket because of supply and demand combined with effect of these corporations that own these rental buildings raising rent to capitalize on populated cities.
Not to get political but the housing market went nuts when Biden proposed to modify the 1031 exchange. The 1031 exchange is part of the IRS tax code, allowing real estate investors to defer taxes by exchanging "like-kind" properties. The term "like-kind" refers to the nature or character of the property. These properties must only be used for business purposes or held as investments.
All the buying of homes 500k and under by these big conglomerates happened when Biden started doing press about the new 1031 tax exchange limits!
Thanks a lot !
Stop the rent hikes.
Housing and the rental market should be tightly regulated, it's time for government to step in. Greedy landlords who jack up rents should be required to compensate their tenants. They are not playing by the rules.
I was living in south central and every month the rent was 100 bucks more. I packed all my stuff and moved to Nashville and it was the best decision.
Price Goudging
They aren't being priced out… The contract with landlord and city is done. So, is the landlord with it.
Kick out all foreign investors.
I understand rent is an issue for many across the country right now, but using imminent domain to buy the building and save the residents is as short-sighted a decision as they come. Setting that kind of precedent would discourage would be investors from investing in those communities. Why would anyone invest in affordable housing for LA when they would be forced to sell that same housing? This is not the way to go about it. If what the landlord is saying is true, the section 8 voucher process needs to be streamlined and the renters need to be educated on how to use it.
It should be illegal to raise rent pass a certain amount. Rent should never be higher than $800 per month. Our government needs to put that into a law because it is inhumane to not do so. I think I will create a petition to make it law.
Take back our Democracy
🇺🇲Biden2024🇺🇲
The City of Los Angeles in defending its exercise of eminent domain can argue that the purchase of the building is for the public (and not just private benefit for the few) because it brings down the rental prices of property throughout LA which allows for more affordable housing for everyone. If landlords want to get greedy like this, they're going to make themselves a target for eminent domain and they won't get too much sympathy from the public electorate. I guarantee you that affordable housing will be the most important issue in the next election.
I hope the well-paid attorneys for the landlord are reading these comments and salivating over how much money they will be able to charge the landlord in legal fees in fighting the eminent domain.
If they kick them out, I hope the cost of living sky rockets in that area. It's the rich people causing a scene.
Landlords contribute nothing. They're slimy and I hope the government sees this and fixes the housing issue. If you're offended, good 😁
There's no profit to be made by building low cost housing. Almost all new construction in Austin, for example, is luxury grade. You have to rent far outside the city center and then have soul killing commutes and gas expenses. At some point people should unfortunately move to cheaper areas.
I though that area has rent control?