About 60 percent of the people who live in Los Angeles rent their homes, according to the Los Angeles Housing + Community Investment Department (HCID). Even though renting is so prevalent in this area, many renters are unaware of their rights under the law.
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.