It’s very effective: people with previously unrented units will obviously decide to rent them out at, legally, at exactly 160% of the FMR rates, thus making lots of new housing available. FMR rates can be easily found here:
And the fact that it’s impossible to predict the law more than one month in advance will guarantee success!
Hah, did anyone fall for that? I know people who were about to move out of LA County, rent somewhere cheaper, and rent out their house to a family that needed it, except that 160% of FMR is utterly, hilariously below market in LA’s housing emergency and isn’t really enough to make the whole housing swap worthwhile, so their house is not actually available to rent. Good job, LA.
P.S. If one could instantly get a permit to rebuild a modern house on the site of one’s burnt-down house, then the housing emergency might resolve faster.
https://members.aagla.org/news/once-again-la-county-board-of...
It’s very effective: people with previously unrented units will obviously decide to rent them out at, legally, at exactly 160% of the FMR rates, thus making lots of new housing available. FMR rates can be easily found here:
https://www.huduser.gov/portal/datasets/fmr/fmrs/FY2026_code...
And the fact that it’s impossible to predict the law more than one month in advance will guarantee success!
Hah, did anyone fall for that? I know people who were about to move out of LA County, rent somewhere cheaper, and rent out their house to a family that needed it, except that 160% of FMR is utterly, hilariously below market in LA’s housing emergency and isn’t really enough to make the whole housing swap worthwhile, so their house is not actually available to rent. Good job, LA.
P.S. If one could instantly get a permit to rebuild a modern house on the site of one’s burnt-down house, then the housing emergency might resolve faster.