Three residences all on the same block in University Heights define the scope of the housing crisis in Southern California. This is not a story about limited availability of units, as news media and political prognosticators regularly (and falsely) claim, but about rising prices driven by numerous market dynamics (such as emigrants or corporations paying cash) mixed with insanity that defies common sense.
The market bears what people are willing to pay and they seem all the more recklessly anxious to fall for fear-economics and the privilege of paying more, more, more.