Those apartments would all cost more than 3k a month. Putting up high rises in LA is expensive. (Earthquakes, fires, etc). So there is zero motivation for devel

Those apartments would all cost more than 3k a month. Putting up high rises in LA is expensive. (Earthquakes, fires, etc). So there is zero motivation for developers to not get the maximum amount of rent possible for a given square footage. No one has explained why a given developer should rent for less than 3K when they could easily rent the same space fo 4K? Is the government providing an incentive covering the shortfall?