Los Angeles wildfires lead to sky-high rents
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The reading
There are reports that landlords in Los Angeles are profiting from the wildfires that have destroyed many communities and thousands of homes. Many people lost their homes in the fires. They now have nowhere to live. Tens of thousands of people are trying to find a house to rent. However, some landlords are suddenly raising their rents by thousands of dollars. Local newspapers are reporting that some rents in L.A. have doubled since the wildfires began. Trying to make a profit in a crisis is called price gouging. California Governor Gavin Newsom said he would introduce price-gouging laws on January the 7th. This was after he declared a state of emergency. The wildfires have shocked America. More than 105,000 people had to leave their homes. The fires have destroyed large parts of some of the most exclusive areas of Los Angeles. Many celebrities have lost their beachfront properties. Model, singer and actress Paris Hilton lost her house in the upmarket area of Malibu. She wrote on social media: "It feels like my heart has shattered into a million pieces." Tina Knowles, the mother of Beyonce, also lost her house. She wrote on Instagram: "It was my favourite place, my sanctuary, my sacred happy place. Now it is gone." Many people are blaming climate change for the fires. A lack of rain has left Los Angeles unusually dry. The risk of wildfires is high.
Sources:
- https://www.newsweek.com/la-renters-pride-gouging-los-angeles-wildfires-2013645
- https://www.cbsnews.com/news/los-angeles-wildfire-evacuees-price-gouging-predatory-businesses-landlords/
- https://www.yahoo.com/news/hundreds-of-la-landlords-hike-rents-to-capitalize-on-desperate-fire-evacuees-202317417.html
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