Why fewer births doesn’t mean cheaper housing
Los Angeles is shrinking. About 10,000 people are leaving the city every year, and another 50,000 leave the surrounding county. This has been going on for over a decade. And yet over that same time frame, rents have nearly doubled.
TL;DR
- Los Angeles is losing about 10,000 residents per year, and 50,000 from the surrounding county.
- Despite population decline, rents in Los Angeles have nearly doubled in the last decade.
- The shrinking population is due to young families leaving, while single individuals and retirees are staying.
- Smaller households, such as single individuals or childless retirees, require more housing units compared to larger families.
- The median age in Los Angeles has increased, and the average household size has decreased.
- The article attributes these issues to 'Democratic Party mismanagement and incompetence'.