July 7, 2015
The listing for a cottage in Venice tells the story: 280-square feet, just half a bathroom and no kitchen at all. Asking price: $1.2 million. Housing in the LA metropolitan region is so expensive it's threatening to drive out the middle class. The median price for a home in LA County is $500,000, and realtors say that's out of reach for buyers who don't get help from their families, aren't investors from other countries — or who can't pay cash.
This story was informed in part from sources in the Public Insight Network, to find out more visit our website.
Photo: Multiple Listing Service
Adrian Glick Kudler, Curbed LA, @curbedLA
Katherine Torina, house hunter, @pokermaven
Carrie Bryden, Nourmand and Associates , @Carrie_Bryden
Leslie Appleton-Young, California Association of Realtors, @CAREALTORS