Tuesday, August 23rd, 2016
Berkadia Los Angeles’ multifamily expert Mark Ventre has an interesting thought piece, replete with anecdotal evidence from clients, trying to answer the question: “Where are we in the multifamily real estate business cycle?”
Read the article here (Berkadia 8/23/16)
Thursday, November 6th, 2014
A flood of Chinese money into Southern California’s real estate market is keeping some agents, bankers, and lawyers busy. Chinese citizens have bought $22 billion worth of homes in the U.S. in the 12 months that ended in March 2014.
Click here to read the article (LA Times 11/1/14)
Thursday, October 2nd, 2014
In addition to U.S. tech, energy and entertainment money, Los Angeles has lured investors from China, Indonesia, Russia, Latin America and the Middle East who use U.S. real estate as a haven from political and economic uncertainty back home.
“If you buy a house for $50 million, $60 million, and it falls to $40 million, it’s still better than having your money under a dictator who decides that money doesn’t belong to you any more… It’s the return of capital rather than the return on capital.”
Read the article here (Bloomberg 9/22/14)
Wednesday, September 24th, 2014
Cities across the state of California, including SoCal, are grappling with a dwindling stock of housing that can be considered affordable for anyone but the wealthiest. In much of the state, a two-bedroom apartment or home is virtually impossible to acquire with anything less than a six-figure salary.
Read the article here (NY Times 9/23/14)
Tuesday, September 23rd, 2014
Foreign investors are combing through high-profile development sites in Southern California, according to Laurie Lustig-Bower, EVP at CBRE. Local developers and investors are facing increased competition from foreign investors for Class A locations.
Read the article here (Globe St. 9/23/14)
Monday, July 7th, 2014
Flipping is back and it’s more insane than ever. Unlike the pre-recession years, when amateurs ruled the scene, today it’s professional investors snapping up all the houses and driving up prices. Redfin found that Los Angeles had the highest number of flips in 2013 and 2014 (so far) combined. (RealtyTrac previously found Los Angeles had the third most flips between April 2013 and March 2014.) And these aren’t just little shacks in crappy neighborhoods—there are so few cheap houses in LA these days that flippers have started moving into the higher-end of the market and it’s paying off with huge gains. The average flip in 2013 made $126,100; that’s the sixth highest market in the US (following Bay Area cities, Long Island, and Boston) and far above the nationwide average of $90,200.
Read the article here (Redfin, 6/19/14 via Curbed LA 7/7/14)
Thursday, June 20th, 2013
Curbed Los Angeles has reposted Trulia’s analysis of data showing that the global one percent really seems to love Los Angeles–foreigners are searching for homes in LA like crazy (more than in any other city), and they’re searching primarily in three (3) areas where USI focuses: Bel Air, Beverly Hills, and West Hollywood.
Read the article here (Curbed LA 6/19/13)
Wednesday, March 27th, 2013
Southern California, the Bay Area and other California markets saw sharp price increases in January 2013, and are now clearly in recovery. Over the year, the Los Angeles metro area was up 12.1%, San Diego up 9.8% and San Francisco up 17.5%.
Read the article here (LATimes 3/26/13)
Tuesday, November 27th, 2012
After nearly five years of brutal economic decline, California is showing the first signs of a rebound. The NY Times reports that there is evidence of job growth, economic stability, a resurgent housing market and rising spirits in a state that was among the worst hit by the recession.
Read the article here (NY Times 11/27/12)
Friday, October 5th, 2012
As Silicon Valley moguls go on a home-buying spree in Los Angeles, they’re reshaping the real-estate landscape. Read the article here (WSJ 10/5/12)