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Co-Owning Property With Strangers Can Make Homes In LA Cheaper— But It’s Also Displacing Renters
Four units in a converted Hollywood apartment building hit the market as TIC's in the $500,000 range, Jan. 12, 2020.
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David Wagner/KPCC
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Co-Owning Property With Strangers Can Make Homes In LA Cheaper— But It’s Also Displacing Renters
There’s a new way to buy a home in Los Angeles, one of the country’s most unaffordable real estate markets.
It’s called “Tenancy in common,” or TIC for short. The model is geared toward younger, moderate-income buyers who can’t afford sky-high prices for L.A. condos and single-family homes
But TIC buyers must be willing to co-own property with strangers. And rent-controlled tenants may have been forced out of the buildings they're moving into.
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