00:00LA rent has finally dropped and here's why. One, there is more supply which means that landlords
00:04are competing for tenants instead of the other way around. Two, because of job losses, remote work
00:10and higher cost of living, LA population fell about 28,000 last year. Finally, with more units
00:16available, renters can now compare prices within the same building, even the same neighborhoods.
00:22Because of this, landlords are cutting prices or matching listings to avoid turnovers and that is
00:28why LA rent prices have dropped.
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