LA housing construction surging—for now
la.curbed.com/2019/8/13/20802833/los-angeles-...
la.curbed.comPosted Aug 13, 2019, 3:59 PM UTC
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la.curbed.comThere have been a lot of big apartment buildings under construction. However, it isn't really enough to make up for all the years without enough building.
I'm hoping that the new IBC wood frame buildings will help with costs; rather than a concrete podium with 5 stories of wood, they will soon be able to go up to 18 stories. Should be cheaper, and it sequesters carbon in the building to boot.
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I saw a developer is building some homes by my doctor's office in Inglewood. Sign says they'll be offered from the 900,000s. I feel bad for people that just absolutely must buy a home in L.A. IMO the stress of maintaining that kind of lifestyle is greater than relocating to a cheaper area ever could be, but to each their own and such.
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Just moving to a cheaper place isn't easy for everyone. My family has been here 4 generations. Unless we all move to the same place, leaving LA means breaking up the family.
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But where else can you find street tacos, the beach and this great weather all in one place? $900K to live in Inglewood is worth it for that! /sarc
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We need 10x this
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maybe after a major earthquake, market crash, war, or something like this - i can afford to have one of those fancy new high rise units as my weekend getaway.
How is an earthquake going to make houses affordable? That just puts more strain on the labor and material for construction. You also reduce the housing supply.
Lots and lots of people bailed after Northridge. That's when my sister bought her first home. Property values were actually reasonable at the time.
Of course today all those reasonable properties would probably get bought up by a New York money management trust fund and prices would stay high, but we can dream.
It wasn't just the earthquake. This was just a few years after Rodney King, gangs were still a thing, interest rates were high, the film industry moved to Canada - there were factors making LA cheap at that time.
A lot of people fled. My parents bought their first house for like $100k. 10 years later and our house went up to 10x the price.
You're right. What we need is a Spanish flu to wipe out all the old people hanging onto to these properties. Everyone just has to stop getting vaccinated.
what if we got hit with a mega quake - largest recorded in modern history - at just the right time and location. what if it leveled thousands of structures and killed thousands of people - i think it could change the real estate market here. i think it could change everything here.
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crossing fingers.
You're crossing your fingers? For thousands of people to die? So you can afford a better apartment?
That's cold.
OR you get a promotion at your job and have the funds to do so .... ain't gonna magically happen happen, at the minimum buy a freaking lotto ticket lol
lmao
i can probably afford one. i was just saying.