California attorney general charges L.A.-area real estate agent with price gouging in wake of wildfires
1 month, 3 weeks ago

California attorney general charges L.A.-area real estate agent with price gouging in wake of wildfires

LA Times  

“May this announcement serve as a stern warning to those who would seek to further victimize those who have lost everything,” said California Atty, Gen. A real estate agent in La Cañada Flintridge is facing criminal charges for allegedly raising the price of a rental property by 38% after the devastating wildfires in Los Angeles, California Atty. “DOJ is aggressively and relentlessly pursuing those who are trying to make a quick buck off someone else’s pain.” A couple who lost their home in the Eaton fire attempted to rent a home in La Cañada Flintridge from real estate agent Mike Kobeissi, according to a Justice Department investigation. The charges filed in Los Angeles County Superior Court against Kobeissi on Tuesday are the first for price gouging related to the historic fires that struck Jan. 7. Bonta said he’s sent more than 500 warning letters to landlords and hotel operators accused of price gouging and announced his office has more criminal investigations ongoing.

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L.A. wildfires lead to price-gouging in rental market
1 month ago

L.A. wildfires lead to price-gouging in rental market

Salon  

As the raging wildfires in Los Angeles have displaced tens of thousands of people, they're also exacerbating fears of not being able to afford a place to live in a part of the country that has endured a decades-long housing shortage. Related The real estate business is also a service business Price gouging in rental market That said, price gouging …

In L.A. County, price-gouging landlords could soon face fines of $50,000
1 month, 2 weeks ago

In L.A. County, price-gouging landlords could soon face fines of $50,000

LA Times  

A resident surveys the remains of her apartment building, which was destroyed by the Palisades fire. Los Angeles County supervisors want to raise the stakes for post-wildfire price gouging, hammering landlords who dramatically hike rents with fines of up to $50,000. Barger, whose district includes Altadena, said she wants to go further, contending that predatory landlords across L.A. County should …

L.A. city attorney alleges mega real estate firm Blueground engaged in price gouging
1 month, 2 weeks ago

L.A. city attorney alleges mega real estate firm Blueground engaged in price gouging

LA Times  

Los Angeles City Atty. Hydee Feldstein Soto has sued the apartment behemoth Blueground US Inc., alleging the provider of furnished rentals engaged in multiple instances of price gouging in the wake of the region’s fires. In its lawsuit, announced Tuesday, the city attorney’s office cited more than 10 cases in which it alleged Blueground engaged in price gouging, including at …

A new inferno in a matter of minutes
1 month, 3 weeks ago

A new inferno in a matter of minutes

LA Times  

A large plume of smoke from the Hughes fire can be seen from Magic Mountain in Valencia. The fast-spreading Hughes fire emerges as the latest threat to Southern California Crews this morning are battling the Hughes fire, which began as a brush fire north of Castaic on Wednesday and quickly exploded into an inferno, forcing residents to flee as winds …

California officials warn against price gouging as rents soar in fire-stricken Los Angeles
2 months ago

California officials warn against price gouging as rents soar in fire-stricken Los Angeles

Associated Press  

Southern California’s expensive housing market is going to get a lot more competitive after deadly firestorms torched more than 12,000 homes and other structures in the Los Angeles area, leaving tens of thousands of people without a place to stay. California Attorney General Rob Bonta said in a statement Saturday that it is illegal for landlords to accept rent that …

California attorney general says bidding wars aren’t exempt from price-gouging rules
2 months ago

California attorney general says bidding wars aren’t exempt from price-gouging rules

LA Times  

Rob Bonta warned that price-gouging protections apply even in the case of bidding wars. Rob Bonta on Saturday warned landlords that price-gouging rules in effect because of the Los Angeles County fires apply even in cases where bidding wars break out over their property. In a news release Saturday, the attorney general’s office sought to clarify any confusion, explicitly saying …

California warns more than 200 hotels and landlords of price gouging complaints in wake of fires
2 months ago

California warns more than 200 hotels and landlords of price gouging complaints in wake of fires

LA Times  

Rob Bonta has sent more than 200 letters to landlords and hotels warning them that they’ve been accused of wildfire-related price gouging, his office announced Friday. “The price gouging that we’re seeing and hearing about needs to stop now,” Bonta said in a release. May they serve as declaration that we are taking swift action, and we will not stop …

Gov. Newsom extends rental price gouging protections; A.G. vows to prosecute violators
2 months ago

Gov. Newsom extends rental price gouging protections; A.G. vows to prosecute violators

LA Times  

Gavin Newsom extended price gouging protections on rental housing Thursday, while the state’s top law enforcement official vowed to crack down on landlords who are ignoring the rules, jacking up rent in the wake of Los Angeles County’s devastating fires. General Rob Bonta said his office is actively investigating numerous price gouging complaints and noted violators can face up to …

Signs of rent gouging rise across region in fires’ wake, bringing calls for enforcement
2 months ago

Signs of rent gouging rise across region in fires’ wake, bringing calls for enforcement

LA Times  

In the Beverly Grove neighborhood of Los Angeles, the asking rent for a two-bedroom condo jumped from $5,000 to $8,000 in the wake of the fires that started last week and have left thousands homeless. “It’s important that the victims of these fires be treated with respect and dignity and fairness,” Bonta said at a news conference in Los Angeles …

Los Angeles fire evacuees face price gouging
2 months ago

Los Angeles fire evacuees face price gouging

The Hindu  

Five days after an inferno razed Pacific Palisades, Maya Lieberman is desperate to find somewhere to live. "The price gouging is going haywire, it's obscene," the 50-year-old stylist told AFP. "I have friends who booked a hotel outside Los Angeles, and when they arrived there, they were asked for a higher price," said TV producer Alex Smith, who has been …

Garcetti pushing fees that could raise $100 million for affordable housing
9 years, 4 months ago

Garcetti pushing fees that could raise $100 million for affordable housing

LA Times  

Los Angeles Mayor Eric Garcetti says the city is launching a study of how new fees on developers could help pay for affordable housing. Los Angeles Mayor Eric Garcetti announced Friday that he wants to impose new fees on developers that could raise more than $100 million a year to subsidize affordable housing in L.A., where residents are struggling with …

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