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)
It's been less than a year since a public-spirited hacker broke into the servers of Florida stalkerware vendor Retina-X, wiping out all the photos and data the company's customers had stolen from other peoples' phones (including their kids' phones) by installing the spying apps Phonesheriff on them.
The Re:Create coalition has just published Unlocking the Gates: America's New Creative Economy, a quantitative report that uses rigorous statistical methods to derive the total income, by state, earned by creators who use the internet to reach their audiences.
In 1992, Oklahoma passed a ballot initiative saying that the state could only raise taxes with a three quarters majority in the state assembly, creating a one-way ratchet where every tax cut becomes effectively permanent, including the sweetheart deals cut for frackers and the deep cuts to taxes on the wealthiest residents of the state.
Many of us enjoy the aesthetic of vintage electronics, but trying to use most hardware from the 1950’s isn’t necessarily practical. This is especially true where speakers are concerned. While most of us can appreciate the old-school feel of retro speakers, they have a hard time matching the convenience and power delivered by today’s Bluetooth speakers. […]
Python is one of the most popular and versatile programming languages used by developers today, making it an ideal first choice for those looking to kickstart a career in programming. While you could go back to school or sign up for a pricey coding bootcamp, you can learn the essentials of coding with Python at […]
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