Is it because of less immigration and the aging population that county-wide worker shortages have worsened? L.A. County was estimated to have more than 10 million residents in 2020, but fell to just under 9.7 million as of 2025.
Might be good for the housing market, but I wonder why Los Angeles hasn't recovered post-COVID.
It's worth mentioning that 16-17k houses burned down just in January of 2025. A lot of those people had to go somewhere else. We are talking about entire families.
Nevertheless, that doesn't change the fact that rising costs, paired with high taxation, are a huge factor. Everything is going up.. insurances, groceries, gas, mortgages. Politicians aren't doing much to change that.
Less immigration is one factor. It declined nationwide. 90% of U.S. counties experienced lower NIM levels between those years, compared to the year prior. Still, people struggle to find affordable housing and the 405 seems more crowded than ever.
Are there other problems? Oh, no doubt, many. Big companies are leaving California mainly because of high taxes and regulatory burdens. This affects Los Angeles as well. I wonder why commercial real estate is so expensive when so many storefronts are empty. You get more for your buck in Florida or Texas. People over there own huge houses and live a different lifestyle.
That's absolutely right. Not only that, the Los Angeles metro area saw an increase in population. The current Los Angeles metro area population is 12.8 million. It was around 12.6 million in 2024. So there are always two sides to a story.
Other areas like Silicon Valley should be more affected. The biggest problem in L.A. is that prices keep rising, but salaries aren't keeping pace.
I don't understand why people keep voting for higher taxes. For example, Los Angeles County voters passed a sales tax increase, raising it from 9.75% to 10.25%. People with low income are actually feeling that. It doesn't help to make L.A. more affordable.
.. but this isn't just Los Angeles. Baby boomers (born between 1946 and 1964) are starting to disappear. Their kids and grandkids aren’t having enough babies to replace them. Most couples in expensive US cities can't afford to raise two kids anymore. You can see that in other US cities too.