The ongoing wildfires in Los Angeles have triggered a housing crisis, with displaced residents scrambling to find shelter as rents soar. Some property managers and homeowners are raising prices well beyond the 10% cap allowed during a state of emergency, fueling concerns of price gouging.
Forced from his Pacific Palisades home by the recent fires, Joe Thompson discovered a five-bedroom home in Santa Monica listed for $28,000 per month — more than double the previous year's rate, as reported by NBC News. The agent was asking for three months' rent up front and had already received multiple applications. Though Thompson's home survived the fires, its future remains uncertain, leaving him and his family among thousands searching for housing in an already-tight market.
