New Luxury Apartments Sit Vacant, Draw Protest – Homeless Problem?

REAL ESTATE NEWS

Are luxury apartments sitting empty in LA? Are they contributing to homelessness? https://www.laloftblog.com/2020/03/08/new-luxury-apartments-sit-vacant-draw-protest/

It’s common for cities to have vacant units, but in LA, the market is relatively tight, according to LACurbed. #vacant #losangeles #homeless

Recently, a group of citizens marched through Downtown streets to protest new high-end apartment buildings. “Shame!’ they yelled in front of the Griffin on Spring and 825 South Hill, where prices for one-bedroom apartments start at $2,700. Some claim that the vacant apartments are contributing to the homelessness problem.

The fact is that these apartment buildings are actually quite new, and it takes time to fill them up. These apartments are private businesses. Forcing luxury apartment owners to take homeless in at cheap prices or free would cause them to go out of business. Governments cannot force private businesses to radically change the way they operate. Such extreme ideas have been tried for hundreds of years in the old Soviet Union, the old Communist China, Cuba. Those who want to see a major vacancy problem may check out the failed example of modern socialism, Venezuela.

Los Angeles really has relatively low vacancy compared to many major cities. All newly constructed apartments are vacant until they are filled up.

The real problem with the Los Angeles homeless and tent cities are the billions of dollars of incentives that attract homeless here, exacerbated by a city hall and police department that have stopped enforcing basic laws such as illegal camping, drug use, petty theft and other crimes routinely ignored by the LAPD. Homeless are being drawn to L.A., then not receiving the services that they need, including law enforcement and mental health services. Angelenos are tolerating an unlawful sacrifice of sidewalks, cleanliness and safety. In addition to costing billions more in lost business revenue and damage to the city’s international reputation, the cost in damage to health is too great. Women and children need to be able to walk on sidewalks to go to school, shopping and other necessary activities. Allowing the sidewalks to be used for illegal camping and drugs is an untenable situation. Regardless of who is to blame or who is not to blame, the sidewalk tent cities must stop immediately. The law must be enforced equally for rich, poor and middle class.

Get a free list of lofts, condos and apartments for lease in Downtown Los Angeles at http://www.LALoftBlog.com

Your Home Sold GUARANTEED or I’ll Buy It*

No Gimmicks! For information on my exclusive Guaranteed Sale Program, order a Free Report by visiting http://www.GuaranteedSaleSoCal.com

4 Big Reasons to Call the Chambers Team to Sell Your Home:

#1 We’ll Get You More Money – Chambers Team gets you 2.2% more of the asking price
#2 We’ll Sell Your Home Faster – Chambers Team sells homes 44% faster
#3 More Likely to Sell – Chambers Team homes are 16% more likely to sell
#4 We’ve got more than 4,721 buyers in our Data Base looking for a home

To find out how much you can sell your home for and how long it will take, call Corey at (213) 880-9910

*seller and Corey must agree on price and time of possession. Realty Source Inc BRE#01889449

Your Referrals Help the Kids. For every referral I receive, I donate a portion to the Children’s Hospital Los Angeles. With your referrals, you are helping Children’s Hospital ensure that critical life-saving care is available to every child they treat. http://www.ReferralsHelpKids.com

Corey Chambers
(213) 880-9910
coreychambers@yahoo.com

Realty Source Inc BRE#01889449

http://www.CoreyChambers.com

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE 01889449 We are not associated with the homeowner’s association or developer. For more information, contact 213-880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.