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The number of homes for sale in Southern California has fallen to start the year, a reversal of normal trends as high mortgage rates keep sellers on the sidelines.
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As COVID-19 took root and jobs vanished, officials sought to avoid a wave of evictions, homelessness and the spread of deadly disease that could result. Governments from federal to local enacted rules allowing people whose finances have been affected by the pandemic to keep their housing if they don’t pay rent.
The policies have been a lifesaver for many during a crisis when staying home meant staying healthy, but a year later landlords say the rules are heaping an increasingly unfair burden on them.
In interviews with The Times, property owners and managers said that they understood the unprecedented nature of the crisis but that they are absorbing too much of the cost. Many said they or their clients are dipping into savings to keep properties afloat and delaying maintenance or repairs because they can’t afford them. Some said they probably can’t or won’t hold on much longer under these circumstances.