Report: LA is the nation’s most unaffordable housing market—and prices will keep rising
By Elijah Chiland @ Curbed Los Angeles
June 27, 2017
Report claims housing demand is increasing faster than supply, causing prices to rise.

EXCERPT: Home prices in Los Angeles have never been higher, and rents are increasingly unaffordable for many residents. Sadly, a new report from the UCLA Anderson School of Management predicts the situation is unlikely to change in the near future.

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The report finds that three of the six most unaffordable cities for homebuyers nationwide are in Southern California and that Los Angeles is the single most unaffordable city for both renters and buyers.

The report also notes that rental rates and home prices are closely tied—and both are likely to continue rising, in part because of a relatively sluggish pace of new housing development.

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