Downtown LA's vacancy rate is 12%, which is the highest it's been since 2000 and triple the overall rate for LA -- and downtown LA is also the site of LA's skid row, whose population surged by 20% last year, thanks to a dramatic increase in homelessness among veterans and under-24s.
The median rent for a one-bedroom apartment in DTLA is $2,500.
The justification for markets is efficient allocations of scarce resources. Market failures are always problematic, but when markets fail over foundational services and goods necessary for survival -- food, shelter, water, health care -- they indict themselves as literally unfit for human survival.
KPCC reported that supply has now outpaced demand, with approximately 2,000 of the 21,000-plus market-rate rentals sitting vacant. As a result, landlords have been offering deep discounts and perks for renters willing to sign long-term leases. This includes up to several months of free rent and free parking for a year. Despite these perks, landlords still have had difficulty filling the buildings.
Downtown L.A. Vacancy Rate Highest In 17 Years
(via Late Stage Capitalism)
(Image: demxx, CC-BY)
Alexandria Ocasio-Cortez (previously), the youngest woman ever elected to Congress, has proposed abolishing Columbus Day (which honors a raping, murdering, enslaving, genocidal pedophile) and replacing it with a day off for voting (which most other developed democracies give their citizens).
China's increasing inequality and rocky transition to market capitalism has created a rising tide of wildcat strikes from independent trade unions, who have found powerful allies in national student communist movements whose members were made to study Marxism in an effort to purge the country's intelligentsia of "bourgeois" ideologies of liberalism and democracy.
Bernie Sanders's latest legislative proposal is the Stop Walmart Act; Sanders describes Walmart as the "poster child for corporate greed" and uses that as a launching point to propose a ban on stock buybacks from companies unless they pay their lowest-waged employees $15/hour.
For the true audio enthusiast, there’s a lot of difference between putting on some songs “for background music” and a true listening experience. For the latter, there’s nothing like a pair of sturdy headphones and the powerful speakers that come with them. And the wireless variety doesn’t get much more powerful than the TREBLAB Z2 […]
Digital or analog, there’s a path of least resistance for any project. Finding that path is what the Agile methodology is all about, which is why proficiency in it is a must for any project management position – and the paycheck that comes with it. And the quickest path to learning Agile? The Agile Project […]
Everybody’s flown a paper airplane. But what if you could fly on a paper airplane? Until we invent shrink-ray technology, the PowerUp X FPV Video Paper Airplane Kit will have to do – but it’s as fun as that sounds and more. The original version of this creative toy added drone tech to the old, […]