this post was submitted on 10 Jan 2025
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Late Stage Capitalism
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How can people afford this? To meet the 3x gross income requirement you'd need an income of $14,995 * 12 * 3 = $539,820. At that point you might as well just buy a house instead of renting.
The Palisades (where the largest fire is burning right now) house some of the wealthiest people in the country that just lost homes worth over $3 million on average. It’s scummy (maybe illegal?) to jack the prices up and these people are also rich enough to pay it, for the most part.
The other fires going on are a different story, but the address is near the Palisades without being in the danger zone.
Capitalism eating itself, rich people now homeless and can't afford new homes
Yet
The winds are over and it’s 5+ miles away, Marina del Rey catching on fire is not what anyone is worrying about right now.
Well you can never rule out arson
It has already happened.
I think it’s marketed to people who had a home and lost it.
That assumes someone will give you a mortgage and that you have multiple thousands of dollars saved up for closing costs, which unfortunately is the reason people are forced to look for rentals and are greeted with...that.
California is super expensive because everyone makes a lot of money compared to other state medians.
Yeah everyone does. That's why there are no homeless people in California.