Im from a suburb in LA County and they just added rent control here and it is one of the the more expensive cities in LA county to live in.
They have new luxury condos popping up all over the place. There was 4 of them just down the block from where I live and another maybe 30 around the city in the past few years that popped up all over with new constructions still going on every other block. Nothing but overpriced luxury condos. Studio apartments starting from $2,750 a month and the bigger apartments going for $5,000 a month or more. It’s ridiculous.
They supposedly raffle off a few of each buildings apartments for low income families for a very low price compared to the rest of the building. Thats what got the city to allow all these luxury condos to go up in the first place but the sad part is the city officials in charge of the raffles are just selling those apartments that are supposed to go to low income families by a random drawing to the highest bidder.

If we were to sell our townhouse where I live I could probably buy a mansion in a different state. California housing prices arw crazy high.

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