For the 1 or 2 out of ten that get to buy it, but buying it is more expensive than renting. And frankly, many renters are renting out of necessity. They don’t have the money to close the deal on $500,000.

The other 8 will be squeezed into an even tighter renting pool that is already experiencing signifcant rent increases.http://www.ocregister.com/articles/rent-680104-month-three.html

And then prop 13 elimination plans will universally raise costs to ALL landlords.

What happens when all producers experience cost increases? They raise prices.

BTW, the largest slumlord in California is about to sell off a bunch of properties. CalTrans is going to sell the homes they own in the path of the never built 710 extension in Pasadena.