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The affordability crisis is impacting the Los Angeles market. According to a recent report from Apartment List, 35% of renters in Los Angeles are looking to move to more affordable markets, and the trend is—at least partially—driving a slowdown in rent growth in the city.

“L.A.’s year-over-year rent growth currently stands at a relatively flat 0.4%, trailing both the national average and the city’s own recent history,” Christopher Salviati, housing economist at Apartment List, tells GlobeSt.com. “To the extent that outward migration trends are indicative of cooling demand in the area’s rental market, this is likely a contributing factor in the slowdown in rent growth. That said, this is just one piece of the picture. The L.A. metro has also seen a boost in new multifamily construction in recent years, and this new inventory is also playing a role.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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