Fire Refugees Scramble to Find Homes From South Bay to OC
Displaced by Wildfires, Families Search for Affordable Housing
Refugees from the Los Angeles County wildfires that destroyed nearly 16,300 structures are scrambling to find housing in untouched Orange County, the South Bay, and neighborhoods surrounding ashen ghost towns.
Affordable Rents in Short Supply
Prices are going up – even past legal price gouging limits. Affordable rents are harder to come by. And tony Newport Beach has had available leases claimed, seemingly overnight.
Real Estate Agents Struggle to Keep Up
“Every one of those houses had multiple applications and most were bidded up over lease-list price,” Tim Smith of Coldwell Banker Realty, told the publication. “Fast forward to today, in most of those neighborhoods, there’s nothing available for lease.”
Tens of Thousands Displaced
The wind-fueled firestorms that began Jan. 7 in the Pacific Palisades and Altadena torched more than 37,000 acres, destroying 6,837 structures in the Palisades fire and 9,418 properties in the Eaton fire, killing 29 people. Tens of thousands of people displaced by damaged or destroyed homes now jostle for any available lease in Southern California.
Neighborhoods in High Demand
Because of business ties, many search for somewhere comparable, from Brentwood and Santa Monica to the South Bay cities of Manhattan Beach, Redondo Beach, and Hermosa Beach, according to Josh Altman, formerly of “Million Dollar Listing Los Angeles.”
Rents Expected to Soar
Selma Hepp, chief economist at CoreLogic, said the region should expect to see rents soar. She said rent growth “will generally triple immediately following” a large-scale natural disaster like wildfires.
Consumer Protections in Place
While there are consumer protections against rent hikes exceeding 10 percent in disaster zones, the ongoing housing crisis could push prices higher anyway, according to the Daily News.
Government Intervention
Gov. Gavin Newsom issued an emergency order aimed at protecting fire victims in Los Angeles County from price gouging. Attorney General Rob Bonta’s office sent out more than 200 warning letters to hotels and landlords accused of price gouging, with criminal investigations underway.
Conclusion
As the region continues to recover from the devastating wildfires, it is clear that finding affordable housing will be a significant challenge for those displaced. With rents expected to soar and consumer protections in place, it is essential that the government and real estate industry work together to ensure that fire victims are protected from price gouging and have access to safe and affordable housing.
FAQs
Q: How many structures were destroyed in the wildfires?
A: Nearly 16,300 structures were destroyed in the wildfires.
Q: How many people were displaced by the wildfires?
A: Tens of thousands of people were displaced by the wildfires.
Q: What is the expected impact on rents?
A: Rents are expected to soar, with rent growth potentially tripling immediately following the disaster.
Q: Are there consumer protections in place to prevent price gouging?
A: Yes, there are consumer protections against rent hikes exceeding 10 percent in disaster zones.
