Rentals of single family homes will be most in demand while displaced families need temporary housing until rebuilding or more permanent relocation is done. The problem is that this is the stock of housing that is in shortest supply in LA County. Most rentals are in the form of apartment lease buildings, multi-plex housing, or mom-and pop condo owners. This has caused an increase in prices, but strict price gouging laws are now in place where no landlord can increase a rental price by more than 10%, if it was advertised 1 year prior to the Emergency declaration. Huge fines and imprisonment imply.
Because nearly 7000 housing structures have been destroyed in the fires, there will be thousands of people who will need housing, making the housing shortage worse. Already, prices of sales in non-burn areas are increasing.
One thing is for sure, in the short term, the majority of those displaced will be renting. This is already causing a large number of renters to search in Los Angeles, as well as in other areas including Orange County.
Downtown, which is a non fire hazard zone, has been more attractive to residents looking to move out of fire zones.
