Urban Law Annual
In the City of Los Angeles, virtually nothing is being built at a rental level of $400 a month or less. Each month the city's housing stock diminishes as the bottom end becomes so uninhabitable as to be unrentable. Another development is occurring at the other end of the housing spectrum, which also diminishes the amount of rental housing: each month a number of luxury-type apartments are converted to condominiums. Tenants must be given a first right to purchase, but the prices are often far beyond their reach.
Norman L. Epstein,
The Los Angeles Landlord-Tenant Court,
17 Urb. L. Ann. 161
Available at: http://openscholarship.wustl.edu/law_urbanlaw/vol17/iss1/16