Falling population, rising costs: what is bedevilling the City of Angels?

Despite its perfect weather and booming economy, Los Angeles is facing a decline in population and businesses due to high housing and living costs, prompting concerns about the city's future.

economist.com

Relevant topic timeline:

8/20/2023

I Left California To Save Money: 5 Mistakes That Cost Me More Money Instead

Many people who leave California in search of a cheaper cost of living end up making costly mistakes, such as taking lower salaries, overspending on housing upgrades, and not accounting for surprising increases in the cost of living in their new state.

9/20/2023

LA Area Rent Increases Slow to 1.65% as Demand Cools and Market Stabilizes

Rents in Los Angeles and surrounding areas are stabilizing after a peak in 2022, with a 1.65% increase year over year, due to decreased demand and a weaker housing market.

9/21/2023

Home Sales Drop 21% as Higher Rates Cool US Housing Market

The United States housing market has seen a 21 percent decline in previously occupied home sales over the past year, continuing the slowdown caused by rising interest rates, while prices continue to rise despite the decrease in sales, leading to a shortage of affordable homes and worsening home affordability for the foreseeable future.