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)
Methodist University Hospital in Memphis is a nonprofit: it pays virtually no local, state or federal tax; but unlike other Methodist hospitals, Methodist University Hospital is relentless in pursuing medical debts from indigent patients. The hospital owns its own collection agency, and is one of the leading litigants in Tennessee's debt courts.
Many states require criminals to make financial restitution to the victims of their crimes -- paying to replace the things the damaged or stole -- and this applies to juvenile offenders as well as adults.
Tech reporter and sf writer Brian Merchant (previously) calls our attention to the peculiar construction of the problem statement in articles about automation and obsolescence, in which "robots are coming to steal your job."
If you suffer from sleep disorders, there are a number of methods out there to mitigate them: Ambient noisemakers, relaxation tapes, sleep masks, you name it. One thing that doesn’t get tried is headphones, for good reason. Even the smallest earbuds are liable to wake you up if you roll over the wrong way. Now […]
Looking to upgrade that old laptop or tablet? Holiday sales may be way on the horizon, but there’s an even better way to get like-new tech for a steal. Here are 10 of our favorite deals on personal computers and gaming gear – refurbished, renewed or brand new. Acer Touchscreen 11′ Chromebook 16GB (Certified Refurbished) […]
Vape technology has been around long enough that vapers are starting to get picky about their gear. Luckily, so are we. From disposable models to cutting-edge touchscreen atomizers, there’s a vaporizer in this roundup to suit every taste. Hera 2 – World’s Most Advanced Dual-Use Vaporizer Choose between dry herb or oil extraction modes – […]