Category: Real Estate News

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Coronavirus Update: Open L.A.

Precinct DTLA booms Jan 2020. Now empty, how long can Downtown businesses hold out?

REAL ESTATE NEWS: The sooner Los Angeles opens for business, the better.

With no date for re-opening, Los Angeles is in dire straits. Very little consideration has been given to the ruinous economic impact of a shut down. Unfortunately, the physical laws of economics have no heart. The dismal science has no compassion for those who fail to heed its demands. This is why both economic health and health care resources of Los Angeles shall pay a devastating price for some time to come. Devastating to our food supply, even more devastating to poor countries and devastating to the American medical system. We’re just now beginning to hear of the unpredicted damage to the medical system. How many will die due to panic? How many shall be lost in the wake of a $30 trillion loss? Real estate is one of many industries that has only begun to suffer the full wrath of shutdown. The lingering aftermath shall sadly be much more serious and severe. #coronavirus #update #realestate

As part of our focus on all aspects of Los Angeles real estate, the L.A. Loft Blog has been instrumental in disseminating a rich variety of viewpoints on how health crises and the economy affect the LA property market. Due to long-term economic correction, the Downtown area housing market has already collapsed by more than 75% compared to two years ago, in the number of transactions completed. We project that down number to increase to an alarming 82% fall after we analyze the April data that is impacted by temporary panic and its medium-term bad effects.

Californians have been paralyzed with fear, but that fear is likely misplaced, and is subsiding. Untold economic damage has been precipitated by insufficient, low-quality data. This can and must change rapidly. When research carefully avoids political agendas, the more rational, unbiased epidemiologists reveal that the true economic risk and health risks are from panic and economic collapse, not from the virus itself — not from coronavirus covid-19. Because of political bias and increasing censorship, the public has not yet received the whole truth: Nearly 100% of “coronavirus” deaths are linked to pre-existing ailments, other diseases. Barbarous political goals, healthcare industry bias towards alarm, along with sensationalism and news media panic profit, are all adversely affecting the economy and the real estate market. In fact, our unprecedented shutdown of the economy will take longer than expected to unwind, with painful shedding before it can turn back on. The economy, therefore, must get worse before it gets better. Panic shall exact a hefty toll. Worst of all, healthy children shall die from the economic damage and neglect caused by frenzy and overreaction. While the Loft Blog is earliest in these revelations, the mainstream media and public will eventually catch on and get caught up as panic subsides, as clear thinking prevails. The truth has a way of eventually getting out. When this happens, after more sane free-market economic practices resume, and after Los Angeles cleans up its act, the future of California real estate is as bright as this weekend’s weather forecast. #losangeles

Our Sun – Nature’s Decontamination Device

Some beaches are open in Los Angeles County, for exercise only, with no sitting or socializing permitted. Orange County has even more beaches open.

Fact checking the FACT CHECK: So called “Fact Check”s are often wrong, especially about coronavirus covid-19. One “fact check” falsely claims that there is no evidence that sunlight kills covid-19. The sun kills bacteria and viruses. A short time in the sun allows our body to produce vitamin D, which is vital to our immune system. Outdoor wind and air blow away virus particles, buy indoor home and office interiors tend to keep the particles lingering the air longer to infect other residents and co-workers. That is one of the reasons why viral flu-like illnesses are much more pervasive in the winter. While viruses can be more hardy in the environment than bacteria, viruses are still susceptible to the effects of sunlight because UV radiation kills viruses by chemically modifying their genetic material, DNA and RNA, according to the NIH National Institutes of Health. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1280232/https://www.digitaltrends.com/news/can-uv-light-kill-coronavirus/https://nymag.com/strategist/article/does-uv-light-kill-germs-best-sterilizer.html

Reader Questions:

Q: What is amazon doing with real estate? A: Not really an LA Loft question, but Amazon has been teaming up with Realogy to give technology advantages to its Realogy’s Century 21, Coldwell Banker, Sotheby’s and other real estate company that Realogy owns.

Q: Are there any deals from LA County probate auction? A: Probate and auctions are usually two different topics. Most probate sales are sold on the MLS, not at auction. For auctions, look for them on the county website. Expect these tax defaulted property deals to grow in number over the next 6 to 18 months. Homes for sale at https://ttc.lacounty.gov/schedule-of-upcoming-auctions/ | PROBATE INFO


Q: Does Ritz Carlton have the best virtual tours of investment homes? A: You’ll likely find some virtual tours of Residences at Ritz-Carlton here.


Q: What is the history of renovated loft buildings in Los Angeles? A: We’re only familiar with the recent history of L.A. loft buildings since the formation of the Los Angles Adaptive Re-Use Ordinance. Before that ordinance, some buildings were converted into residences under the earlier ordinance of 1981. The AIR Artist in Residence officially allowed for residential use of formerly industrial buildings. Molino lofts underwent varying states of conversion during the 1980s and 1990s. Some units at Molino lofts still have the same outdated kitchens and bathrooms. http://www.condopedia.com/wiki/Molino_Street_Lofts

Q: Are there any 2-story lofts for lease? A: There are usually a few 2-story lofts to choose from. At the moment, they might all be leased out. The Gallery Loft was just leased out in the last couple weeks.

Get a free list of 2-story lofts for lease. Fill out the online form:

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Los Angeles lofts will survive, but how many residents will get behind on HOA dues?

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE 01889449 We are not associated with the homeowner’s association or developer. For more information, contact 213-880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

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The Great Depression 2020

The Great Depression 2020
Great Depression 2.0

Coronavirus Update – Historic Unemployment, Economy in Ruins

REAL ESTATE NEWS (Los Angeles, CA) On March 15, the number of Google searches for “Great Depression” shot up to its highest level in 15 years as the stock market crash awakened people to the unfortunate possibilities. Today, we must prepare ourselves for reality of the market in 2020. The Great Depression 2.0 looms as some of the numbers are already much worse than what the U.S. economy experienced in 1929. Here’s why things can be much worse AND much better today. #greatdepression #2020 #coronavirus

The employment rate in 1929 was good. It took nearly 4 years of chaos following the stock market crash for unemployment to bottom in 1933. Great Depression 2.0 has already caused the fastest and most sweeping unemployment in history. The worldwide economic shutdown caused by coronavirus panic has already caused the fastest and most severe business collapse of any event in history. The shutdown has instantly caused the real estate market to come to a standstill, and collapse. Even hospitals, doctors and nurses not involved in acute respiratory care are suffering financial hardship and bankruptcy. Meanwhile, corona-panic causes many other types of medical patients to die of neglect and under-treatment. #update #2.0 | Blog Video

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The expenses compound. For each day of The Great Lockdown, overhead keeps costing, debt keeps soaring and the hole grows bigger. Real cost and loss grow exponentially. Nearly every industry is being decimated. A large number of scared Americans are going to find a very big bill, with vastly reduced resources to pay that bill. The virus does not care about politics. Money only cares about resources, labor and entrepreneurship, all of which have been largely cut off.

Unhealthy people are the primary victims of the virus — the same elderly and compromised individuals who suffer from seasonal flu every year, with similar results every year. Without thinking about how the panic is going to affect their health in the future, those impacted by The Great Depression 2.0 are all going to point the finger at other people as the source of their financial and health woes. Medical experts admit that the coronavirus data is seriously flawed; respected medical experts explain just how misleading the data is.

“The economy is clearly in ruins here”, according to Chris Rupkey, chief financial economist at MUFG Union Bank. Yet massive depression is only part of the problem: Corona-Panic blinds many to bigger health problems caused by poverty, which extends deep into the future. Mental health issues such as depression, anxiety are already skyrocketing now, along with domestic violence and suicide.

Massachusetts, New Jersey, California and other states are placing bans on evictions and foreclosures, which will force investors and banks into foreclosure and insolvency.

The IMF International Monetary Fund has warned of the worst downturn since the Great Depression. More than half of a entire year’s GPD has been spent by the government. When adding the cost to the entire economy, we are looking at 1.5 years to 4 years or more of income just to repair that economic damage. They means we all must work those extra years just to fill in the hole.

The government and mainstream media have done quite a horrendously counter-productive job in managing and disseminating statistics. The Great Depression 2.0 has been precipitated with Americans being presented with misleading statistics of infection, exaggerated projections of death. The biggest distortions have been via obfuscation and cover up of true causes of death. 99% of all “coronavirus” deaths are linked to pre-existing ailments, other diseases. This trend of inaccuracy extends to economic forecasting. The disseminators of the inaccurate health data have utterly no idea how to calculate the toll on the economy or how to account for damage to the future health of Americans. In economic reports, we know to expect large amounts of bad information from the government and mainstream media over the next year or two. Before its all over, the virus is wrongly blamed for economic mismanagement, and all types of people will be blamed as scapegoats for the lack of discipline by others.

Fortunately, major silver linings exist in these enormous dark clouds. The damage is extraordinary, but the silver linings are commensurate — correspondingly gigantic. To compensate for some of the economic damage, a depression brings astounding opportunities that are difficult for most to fathom: Babe Ruth made a fortune in the Great Depression. Famous robber John Dillinger made millions from his unlawful exploits. Film star James Cagney made a huge fortune as one of Hollywood’s highly paid box office stars of gangster movies. Many other singers and entertainers made a killing. Charles Darrow, creator of the Monopoly game, became the world’s first millionaire game-designer. Oil man J. Paul Getty, snatched up depressed oil stocks with his inheritance and created a new petroleum empire. Aviation entrepreneur Howard Hughes made his fortune. Many others made a mint during the Great Depression, including Joe Kennedy Sr., with stock speculation, real-estate, liquor and movies. These 1930s examples can be translated into today’s opportunities in shorting stocks, buying crashed stocks, entertainment, video games, new hyperloop transportation and space technologies, cost-saving technologies, solar, wind, geothermal, nuclear fusion etc.

While we’re still the same challenged creatures who can barely figure out how to light a fire in a natural setting, we have vastly more technology and other resources at our disposal today. Technology can and shall make up for human failings. Tech shall help us dig ourselves out of this historic hole. BOOM OR COLLAPSE | REAL ESTAET MARKET 2020

Those who are motivated will deflect the negatives by fully taking advantages of all of the positives as wealth changes into the hands of those who employ new ways to engage in good old-fashioned hard work and determination.

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Skid Row rooftop, Los Angeles, CA

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE 01889449 We are not associated with the homeowner’s association or developer. For more information, contact 213-880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.