Following complaints of price gouging in the wake of the devastating Los Angeles fires, the California Department of Justice has begun investigations. A couple applying to rent a home experienced an unauthorized 38% price hike, violating state law that caps increases at 10% during emergencies. The DOJ has issued 500 warning letters to suspected offenders and is investigating more cases. Violators face serious legal repercussions. The fires have drastically affected the housing market, with rental demand surging amid a significant drop in available homes, particularly in affected affluent neighborhoods.
The DOJ is aggressively and relentlessly pursuing those who are trying to make a quick buck off of someone else's pain.
State law prohibits price increases of more than 10% on goods or services that were being sold prior to an emergency declaration going into effect.
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