Recently, there have been studies and articles stating that buying a home is not a priority for millennials and other young adults. There is also the position that buying a home is not financially possible for younger generations who carry more debt and earn less than their parents.
Los Angeles has a highly competitive housing market. As such, many houses up for sale will receive multiple offers, so it can be important to make your offer competitive when you find a home you want to buy.
Los Angeles is one of the most expensive cities to buy a house. As such, it is not unusual for people to capitalize on the chance to buy a house for less.