COVID Update: Thursday, June 17

Former Councilmember John Duran has been doing daily COVID updates on his Facebook page since March 2020. Many members of the community have found them helpful. They are republished here with his permission.

226 new COVID cases announced in LA County yesterday along with 5 additional deaths.   Positivity rate remains low and unchanged at less than half percent.   Hospitalizations decrease again getting closer to 200.

600,000 DEATHS

We crossed a very somber milestone:  600,000 dead in the USA due to COVID as reported in the NY Times this morning.   This is six times more than what Fauci predicted back in March of 2020.  Gratefully, the vaccination rates have slowed the death rate considerably across the nation.  

We hit our first 100,000 dead mark in May of 2020 (only 2 months into the epidemic).   It took another 4 months to hit 200,000 dead in September 2020.   It took 3 more months to hit 300,000 dead in December 2020.   It took just five weeks to hit 400,000 dead in January 2021.  It then took four weeks after that to hit the 500,000 dead in February 2021.   Thank you science that the vaccines arrived at that point making it four months (instead of four weeks) for us to the hit the 600,000 mark in June 2021.   

Sad reality continues that hundreds of American still die from COVID daily – almost all of them from the unvaccinated camp.   The vaccines do prevent serious illness and death in 99% of the people who get the shots.  And with a more contagious and deadly mutant on the rise (DELTA) – this is no time to play the odds.  Save it for Vegas……..

RENTS START TO RISE AGAIN

For a brief moment there, it appeared that COVID was forcing a reduction in rents across the Southland.  Those days are over.  According to a story in the LA TImes this morning, rents in LA, NY and San Francisco are all on the rise again.  Median rents have increased in Los Angeles by 3.6% since hitting rock bottom.    The median rent in LA is now $1717.  

The apartment vacancy rate in LA was 6.2% in November of 2020.   That vacancy rent has now declined to 5.8%.    As vacancies decrease, rents go up.   Some of this may be seasonal as summer hits.   But overall, it appears that rent decreases are over.

Rent control continues to exist in Los Angeles and West Hollywood under their local rent stabilization ordinances – applying generally to properties built before 1978.  

Remember also that all of the rent moratoriums EXPIRE at the end of June.   So, we are 2 weeks away from FULL RENTS coming due.   Under State and local law, you DO have one year to pay back the past due rents that you may have accumulated over the past 15 months.   There are also state and local relief programs available to have your landlord paid back for past due rents by the State government.     Research it and apply.  And be patient.   There is a back log.  

PENT UP DEMAND SPARKS INFLATION WORRIES

Interest rates are likely to be nudged up by the Federal Reserve very soon.   The economy is rebounding POST COVID and sizzling hot.    After we were all locked up for over one year, demand for goods and services has been restrained.  But now that demand is being released all at once, there is a shortage of supply of everything!  

When demand exceeds supply of goods and services, prices spike upwards.   If wage increases follow price increases, we could end up in a terrible inflationary period.    Most experts predict that the spike is temporary and likely to be absorbed by consumers and businesses in the short run.    Meaning that there will not be wage increases due to the POST COVID recovery.   But to be cautionary, the Fed Reserve is going to nudge up interest rates to cool the economy just a bit to avoid inflation.

SPEAKING OF SIZZLING HOT……

90 degrees in Los Angeles today.   It’s a FLEX day – meaning we all have to do our parts to control energy usage.   If energy usage gets too high – it could cause rolling black outs and brown outs across the State.   So, when you go to work – turn off those lights and fans.  Shutter up and shade windows.  Keep cool kids……

The Supreme Court just upheld OBAMA CARE for the third time in a 7-2 vote defeating Texas challenge to overturn it.   And the Congress has passed a law to celebrate the end of slavery on June 19th which the President is expected to sign.  Silver linings in the clouds…..