Homeowner in Los Angeles WANTS $7,000/MONTH in Rent!

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The owner of this house in Los Angeles wants $7,000/month to rent it out. That's over $80,000/year for a house that is fairly small and needs significant updating.

This type of practice from homeowners and investors is very common in Los Angeles, where there's lots of legacy owners who keep their houses vacant and put them on the rental market at crazy rents.

What's even crazier is that these rents aren't even enough to deliver a 5% return to the owner of the house. They could get more money by selling the house and investing in US treasuries.

But many homeowners and investors in the Los Angeles Real Estate Market don't care. They'd rather keep the house at a low return, or even vacant.
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