Rents Fall in Parts of California, But Housing Insecurity Still High

As pandemic-induced remote work frees up some employees to live anywhere they have Internet access, vacancy rates are rising in parts of California. That’s putting some renters in the driver’s seat in pricey coastal cities like San Francisco — where rents have dropped nearly 22% since January — and Los Angeles. But rents in traditionally more affordable inland and suburban areas are increasing, prompting concerns about gentrification and displacement, especially as so many Californians remain unemployed during the pandemic. We’ll talk about the state of California’s rental market.