Wednesday, May 30, 2007

Condo Conversions Beat Rent Control

Condo conflict Apartment refugees stranded in a sea of high rents

This story is about how rent control is causing landlords to convert their apartments houses to condos. Then the middle class is forced to rent lower quality place, further from their work. This is a good way to get families to leave Los Angeles. Of course those apartments that are available are becoming very expensive—why? because illegal aliens, 3,4, even five families will rent one apartment. This prices honest citizens out of the housing market. The condo’s get bought by the well to do—hence LA becomes a rich/poor city—the middle class squeezed out by government policy.

And you can just bet your ass that when the packing in becomes too difficult to ignore, Mayor Antonio Villaraigosa will get money for projects—in other words, a permanent underclass that will vote for him in perpetuity.

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