There is definitely a shortage of LTR in the area and it’s good to know we could pay our mortgage with one if we needed to. 

As for SB9 & SB10, I think they are a horrible answer to the problem of housing shortage and housing affordability.

LA's housing shortage is no secret (slight population decline has been reported lately but it's still the most populous county in the entire country), which is exactly why the new ADU laws were passed. 

With covid , supply and labor shortages , prices and completion dates on longer projects are not feasible .The clothes they are wearing ?  

In engineering phase and holding until lumber prices and labor shortage level out.

Mitigate: The massive shortage of inventory for sale right now is currently putting a floor on how far prices can fall.

Gentrifying areas also see huge spikes in rent prices and there is a huge demand and shortage of housing in LA.

Finding Reliable Sub-contractors - There is a massive shortage in skilled trade workers. 

Another viewpoint in other competitive markets I've seen is that buyers' criteria loosen a bit when the market is hot and there's a shortage of deals.

The current loan balance and prepayment penalty shall be deducted from sale proceeds and if there is an escrow shortage same shall be charged to Seller at closing.