It isn’t just not affording rent. At least a noticeable group has money for rent but also have evictions where they were unable to pay their last rent. Who is LA will rent to someone with an eviction? Last time I had to find a rental in LA, we had a combined $200k+ income, savings, references, job stability, & still ended up in our last choice neighborhood. If a property went up, it had a dozen applications by that night. We have a system that excludes tenants as unworthy & even condemns some to homelessness with liens, evictions, whatever requiring 7 years of good behavior to get a second chance. Once your homeless, I think your credit is only bound to get worse. The system is designed to push undesirables to the bottom.