This article gives a good picture of why income property, for better or worse, is the right investment in Los Angeles. It paints L.A. as bad for renters:
– 63% of L.A. residents are renters
– rent has increased 30% over the past 20 years, adjusted for inflation
– over the past 20 years, renter incomes have decreased 6%
– 37 affordable units for every 100 would-be renters
Rent control is one way to battle rent increases. But when a city is as desirable as L.A. or New York, there’s not much you can do about people wanting to live here.