BeyondChron, a SF (San Francisco, not
sci-fi) paper, has posted a piece
that may send a shiver down the spines of apartment-dwelling Angelenos. Seems that real estate speculators in the Bay Area have pioneered a method to evict renters from small (generally 4 unit) apartment buildings, so that they may go condo. Basically, the landlord declares his intention to leave the business, tenants are evicted, and the building is converted to a Tenancy in Common
These so-called Ellis Act evictions (click here
for an explanation of the law) have swept and saturated the Bay's rental market, and now the muscle behind this movement have turned their avaricious gaze towards LA.
Whether the method will catch on here remains to be seen. As the piece points out, there are many differences in the SF and LA housing markets. Still, renters should probably keep one eye cocked northward, scanning the horizon for the coming of the Northern hordes.