L.A. prices caved 42% from 89-94 and then flat lined until '97. Certainly worse than a mere slump. I'd be shocked if Westside L.A. prices make anywhere near the same concession this time around.
California⦠roadmap to Socialism in the USSA
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L.A. prices caved 42% from 89-94 and then flat lined until '97. Certainly worse than a mere slump. I'd be shocked if Westside L.A. prices make anywhere near the same concession this time around.
two things will help support westside prices on a relative basis.
1. school systems... i can remember when manhattan beach 2br units rented for less than $2,000 per month & private school tuition was $1,000/month per child... so basically, you could rent in M.B. at a "wash" if you had 2 kids in private school.
2. EastLo, Boyle Heights, Westlake (west of L.A. CBD) are seeing lots of doubling- and tripling-up... westside residents arent gonna put up with 3 families per unit... except maybe in Venice
i think its all going down... arguing relative declines is not my bag... i concentrate more on commercial r.e. area & in 1990-1994 stuff was selling so cheap it was scary. i think you are looking to move to Socal, so its a personal choice... westside is not my cup of tea. im leaving Cali anyway as soon as my kids are finished with college.