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This Is What Los Angeles Could Look Like In 2033

Outsiders stereotype Los Angeles as car-addicted, polluted and lacking in public transit. But the City of Angels has undergone major changes over the past few decades.
LA is moving toward a greener future, friendlier to pedestrians, metro users and bicyclists. There are various development projects planned, particularly in downtown and Hollywood, which are becoming more dense and vertically-built. These projects preserve historic architecture while adding apartments, parks, retail and entertainment.
These 20 architectural renderings give us a glimpse into a stunning Los Angeles of the future…

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Los Angeles Real Estate Market 2020 Overview

We will discuss the latest Los Angeles housing market trends & news and find out how they can affect the investors and homebuyers in the latter half of 2020. The shutdown due to coronavirus pandemic had an impact on the California economy and the real estate sector well. Home sales dropped over the past couple of months but prices remain high. Southern California home sales fell 26.6% in April compared with a month earlier, while year-over-year sales were down by 31.5%. In April 2020, the median sold price of existing single-family homes in the Los Angeles Metro Area was $550,000, a year-over-year increase of 2.5%. As compared to March the median sold price decreased by 1.1%. Home sales in the Los Angeles metro housing market decreased by 30.9% as compared to the previous year. As compared to March the home sales decreased by 21.2%. Is it the right time to buy a house in Los Angles? This is a never-ending question with no definitive answer. Buyers believe it is a very good time to buy a home in Los Angeles. Mortgage applications to purchase a home are increasing with the easing of restrictions. The number of buyers is slightly down, and more housing will soon be listed which may bring the prices down. A huge number of job losses and unemployment claims are keeping new homebuyers away from the market, so that means there would be less competition for buyers to purchase their ideal home. According to the forecast by CoreLogic, home price drops aren’t expected in Southern California. Prices instead are forecast to rise 3% in Los Angeles County by April 2021, 5% in Orange County, and 6% in the Inland Empire. Therefore, this a relatively good time for homebuyers in Los Angeles before prices start ticking up again.

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Prospects for 2018

And this will be a growing problem more broadly for potential investors in LA, with a lack of value add and diminishing core opportunities, says Bohlinger who says “the real challenge is going to be finding product.” “As we’ve continued to see in the first quarter, there is an abundance of capital, but only a modest level of new offerings.” Despite the supply constraints, and some record-setting prices (for example, the Westside’s record high price in some cases has exceeded US$1,200 per-square-foot), LA transaction volumes are likely to continue to grow at a moderate pace during the coming year – barring any sudden unexpected increase in interest rates. “The potential for inflationary pressure caused by rising wages and record low unemployment pose a potential threat to economic growth,” notes Doupe. “Overall though, investors will continue to see LA as an attractive opportunity.” Click to read more about cross-border investment into real estate.

Investors are going to town

All of which is acting as a powerful lure for investors. “The industry mix affords more protection against volatile economic swings, providing more stable investment opportunities,” explains Doupe. “Transit and infrastructure developments are also supporting sustainable growth, which is another attractive quality for investors.” Sovereign wealth funds – which typically access the market through joint venture partnerships with local operators to leverage their local market knowledge – have been especially active in targeting large core and core plus investments. Meanwhile, value-add equity and debt fund strategies represented over half the funds raised in 2017. Investor activity has been broad-based, reflecting the city’s economic diversity. The industrial sector, which has been a powerhouse across the country, made up 30 percent of flows in 2017, with retail accounting for 17 percent and hotels six percent. “The rise of ecommerce is driving demand for distributors throughout LA and the Inland Empire, and investment activity is following suit,” notes Doupe. While office investment was strong in 2017, seeing 47 percent of the total flows, “there was a lack of office opportunities for the amount of capital hunting for properties,” he adds.
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