August 31, 2006

Glut of high priced condos in LA - "builders still bullish on new projects!"

13 comments:

Anonymous said...

nothing like living in the ghetto with the hopes of getting rich

patricia said...

everybody hopes to be richer everyday.

Anonymous said...

Sounds like Downtown Orlando Florida.

"Hunter" said...

Did you guys see that place? How tacky the outside was w/ the modern look and the plants. The inside of those condos were even worse. I don't know if I would like to live in a cold condo w/ an echo. The realtor had a damn echo. Oh and to top it off, paying 3/4 of a cool mil for it. Priceless.

InfidelSix said...

Downtown is a crap-hole. You're always in a traffic jam, it's nowhere near the water and on weekends, without business people (normal people) it's just you and the dregs of society. Unless you worked there I'd never consider it.

Mark in San Diego said...

But Keith, EVERYONE want to live in LA. . .it's got great weather, is the center of the universe, has exciting people. . .prices can only go up . . .opppps sorry, that was San Diego. . .or was it Orlando or Phoenix. . .can't remember which, but EVERYONE want to live there!

Anonymous said...

Condos will be had for pennies in the near future.So will houses.So let them build.Hell,encourage them to build.The price of rent will go sky high in the coming years along with the skyrocketing population that will be left with no choice but to rent.Then rent to the masses and rake in a fortune.

awaiting bubble rubble said...

Keith,

I was walking around the Southpark neighborhood where the lofts are going up (it's south of downtown between Flower and skid row) a couple of months ago on a Sunday. The neighborhood was abandoned. There were no businesses open. I had to walk 10 blocks, and dodge some really aggressive homeless people to find a cup of coffee. I can't quite comprehend who will pay half a mil or more to live there, even if they do work there.

Hey, check this out and get in touch with the guy in Arizona! Maybe we can find out how to query MLS data the way he did: http://www.azstarnet.com/business/144476.php

awaiting bubble rubble said...

Oops! The rest of the link is:

business/144476.php

Click on http://tinyurl.com/macfg

banned_on_the_run said...

No one ever shows the blocks upon blocks of tents and cardboard boxes in Downtown LA. It stretches from the new condos in Little Tokyo to those nifty lofts and is seeping past the Toy District to the Fashion District.

devestment said...

The thing about Los Angeles is that it is the financial center of one of the biggest economies in the world. I have been able to make a living here in the past 4 recessions. On the weekend, downtown is a ghost town which is kind of nice, during the week it is full of nicely dressed business people and busy eateries. Without traffic it takes 15 or 20 minutes to get to the beach. Your only worry there is terrorism and earthquake.

dagg said...

i used to rent a loft in downtown LA right where all the homelesss gathers, Little Tokyo Lofts, then they did a condo conversion so i moved out. the inside of the builder is ok, but when you drive out of the parking lot, it's a whole different world. homeless everywhere. i can't image anyone would pay upward of 300k for a neighborhood like that. what are people thiking. i don't think it was selling that well anyway.

dagg said...

i know a guy who lives in that same loft they reported, the flower street loft, i almost got into an argument with him when i told him i think that RE price will tank. he wrote me a long email explaining why everyone wants to live in downtown LA. we'll see what he thinks about my opinion when his loft price drops.