After Wildfires, Local Prosecutors Crack Down on Price Gouging in Housing Market

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Local district attorneys are intensifying efforts to prevent excessive price increases, an issue that has been frequently highlighted by the press following a series of devastating wildfires in Altadena, Pacific Palisades, and Malibu. These fires have left thousands of homes either destroyed, damaged, or uninhabitable, making their former residents – who are grieving and now homeless – frequent and often desperate participants in an already hot local real estate market.

A representative from Hydee Feldstein Soto’s office mentioned that they are reviewing around 650 reports of price gouging, with the majority being concerning rent prices, as shared with The Hollywood Reporter.

As a fervent supporter, I’d rephrase it like this: “Being a passionate advocate, I share that the newly elected Los Angeles County District Attorney, Nathan Hochman, has acknowledged his office hasn’t received price gouging cases from law enforcement yet. However, he’s made it clear that his office will vigorously prosecute such offenses, stating, ‘These predatory actions aren’t just crimes – they constitute a direct attack on our community during an unprecedented period of grief and struggle.’ He further emphasized that illegal price hikes are not confined to the housing market; rather, they extend to various ‘essential goods and services,’ including hotels, medical devices, veterinary care, and more, amid this crisis.

15th January saw Soto declare that her office had initiated criminal proceedings against two individuals for flouting the wildfire curfew enforced in the Palisades to prevent looting. Two days prior, Hochman disclosed a string of burglary charges linked to residential break-ins in the Palisades and Altadena since the fires began, which collectively have torched over 37,000 acres and claimed at least two dozen lives.

One unfortunate development amidst the ongoing firefighting efforts is the issue of price gouging. Jason Oppenheim, a luxury real estate agent and star of Netflix’s “Selling Sunset,” has personally experienced this problem when dealing with a rental property that initially asked for $13,000 per month in rent. Despite offering $20,000 monthly and paying six months upfront, the landlord insisted on raising the price to $23,000, as allowed under state law during emergencies, which prohibits property owners from charging more than 10% above the market rate in designated emergency areas. Oppenheim expressed his concern that landlords are exploiting this situation for their own benefit.

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2025-01-17 03:24