Feb 3, 2020
Los Angeles potentially has more than 41,000 empty housing units, according to a recent study released in November 2019 by UCLA law students and a coalition of economic justice organizations. That’s certainly more than all the people on Los Angeles streets and in shelters—36,165 people, according to the Los Angeles Homeless Services Authority (LAHSA).
Many of these units were purchased or built by rich investors who keep these units empty and wait until their sales prices or rents provide a fat profit.
Meanwhile, the low-income working class, who are no longer able to afford these egregiously high prices, join the ever-growing ranks of the homeless.