Los Angeles multifamily landlords and tenants are girding for yet another blow on the heels of January’s historically destructive fires that tore through a city still recovering from the pandemic.
The latest challenge for the city’s apartment industry comes in the form of a budget shortfall, projected to be up to $118M, that could force the local housing authority to cease payments to landlords later this year. The deficit has been exacerbated by existing and potential federal-level cuts to Section 8 housing vouchers.
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