Ringo Chiu/Reuters The Los Angeles fires will exacerbate southern California’s already crippling housing crisis. More than 180,000 people have been evacuated and 10 killed, and at least 9,000 buildings destroyed, by the five fires in the city’s suburbs. Thousands are in temporary accommodation, some staying with family or friends. But even those whose houses remain standing are likely to see impacts: The city already has a shortage of about 337,000 homes, and the displacement, plus damage to housing stock, means “a positive shock in demand, and a negative shock in supply,” one economist told The New York Times, driving rental prices up around the city and possibly leading to an increase in homelessness. |