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Fortune
Fortune
Alena Botros

Top real estate CEO says fire-ravaged LA residents are desperate for a place ‘to live for the week’ amid waves of price gouging

(Credit: Chris Goodney/Bloomberg via Getty Images)
  • After the wildfires ravaged whole swaths of Los Angeles, residents are battling a second crisis: finding temporary shelter amid rampant price gouging.

Redfin chief executive Glenn Kelman said one of his agents lost her home to the fires that tore through Los Angeles. She found a home for rent, listed at $5,600 a month, he said. But when she called, the landlord had nearly doubled the price to $11,000 a month. So she drove down the southern California coast to search for a hotel in Orange County. 

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