With our free press under threat and federal funding for public media gone, your support matters more than ever. Help keep the LAist newsroom strong, become a monthly member or increase your support today .
Co-Owning Property With Strangers Can Make Homes In LA Cheaper— But It’s Also Displacing Renters
Listen
• 4:28
Four units in a converted Hollywood apartment building hit the market as TIC's in the $500,000 range, Jan. 12, 2020.
(
David Wagner/KPCC
)
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.
At LAist, we believe in journalism without censorship and the right of a free press to speak truth to those in power. Our hard-hitting watchdog reporting on local government, climate, and the ongoing housing and homelessness crisis is trustworthy, independent and freely accessible to everyone thanks to the support of readers like you.
But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
Chip in now to fund your local journalism
(
LAist
)
Trending on LAist
-
The City Council will vote Tuesday on a proposal to study raising the pay for construction workers on apartments with at least 10 units and up to 85 feet high. -
The study found recipients spent nearly all the money on basic needs like food and transportation, not drugs or alcohol. -
Kevin Lee's Tokyo Noir has become one of the top spots for craft-inspired cocktails. -
A tort claim obtained by LAist via a public records request alleges the Anaheim procurement department lacks basic contracting procedures and oversight. -
Flauta, taquito, tacos dorados? Whatever they’re called, they’re golden, crispy and delicious. -
If California redistricts, the conservative beach town that banned LGBTQ Pride flags on city property would get a gay, progressive Democrat in Congress.
Best of LAist