Southern California rents rising as supply dwindles
While Los Angeles and Southern California are typically pointed to as leading candidates for a real estate bubble pop, rents continue to rise significantly, up over 5% in the first quarter. One important measure of "bubble markets" is the difference between renting and owning. Studies seem to indicate that not only are rents rising higher, but that supply is shrinking. (More for LATimes.com)
3 Comments:
I have lived in Los Angeles County for approximately 40 years and I can truly say that this place is beginning to stink! I bought my first and only home in 1975 in West Hollywood a then considered middle working class area. Since, I sold the home in 1985 it has been owned by 10 different individuals-Something is wrong with this town!!! The American Dream of once owning a home by hard working Americans and hard working immigrants has now turned into greed of buying houses for profits by many ruthless, greedy bums who don't want to work and want their money the easy way EVERY WANTS TO BE A MILLIONAIRE. So these bums turn themselves into callous, ruthless real estate investors of different sizes, ages and shapes. Shame to them for their greed which is affecting the lives of so many decent people. HANG DOWN YOUR HEADS IN SHAME!!! We don't need to outsource work or import illegal cheap labor! NO MADAM/SIR what we need is to put those lazy selfish bums to work so they learn some dignity and humility through their laborious efforts and learn to appreciate and respect the rights of those who believe that work is the means to achieve success.
I strongly disagree with anonymous. I have had many hard, physical, jobs in the past and worked long hours for others making them very rich! To call real estate investors "greedy ruthless bums" is pathetic. The real fact of the matter is that "some people" will never understand that opportunity "knocks" every day but few will listen. STOP complaining about your miserable life and take responsibility. Wealthy people only do what other wealthy people do to become wealthy themselves! In other words, don't re-invent the wheel! Fear is a terrible thing in life...... It is what prevents you from moving forward and succeeding. I'm very glad I made the choices I made to be rich today. I still work today. But I work smart and for myself not hard for someone else! Wake up anonymous!!!!!!!!
There is no doubt that there are ruthless speculators in the real estate industry and market, but there are ruthless people, rich and poor, in all facets of life.
While there might be a huge bubble in the real estate market, there might be no bubble at all.
Los Angeles is still more reasonable than San Francisco, San Diego, or New York, and the fundamentals behind the Los Angeles real estate market are far more solid than many other hot markets.
This isn't a social issues site, but people should focus more on what they do and less on what others do.
Ultimately, this might simply be the new reality in real estate.
If you've made money in real estate, then good for you.
Congratulations on your success.
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