Tag: DTLA

Home ownership creates more wealth than a second job. Is Los Angeles one of the West Coast cities that have seen the biggest wealth gains?

Recent home price gains in some parts of the country have been on par with salary of a 2nd full-time job, but without the work. In Downtown Los Angeles, that equity gain has averaged $210.80 per day according to a Bloomberg report. In some ways, this equity gain is actually better than getting paid for employment.  In addition to not having to work full time for it, home equity applies directly to net wealth as the illiquidity helps prevent the money from getting wasted.  Home ownership is starkly better than many renters realize.  Los Angeles homeowners usually get wealthier while renters tend to spin their wheels and stagnate.  The average homeowner accumulates 44 times the net wealth as the average renter.  What a great investment!  #dtla #home #prices

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