Quote:
Originally Posted by nostatic
Following the artists shows some of the trajectories. They used to be in Silverlake but got priced out. They used to be in Mt. Washington but got priced out. They are in Highland Park but are getting priced out. They are in Inglewood (that's where my wife's studio is), but will likely get priced out. Next is El Serreno (which is still the hood). Now West Adams (west of USC) and Leimert Park are getting hot and regentrifying.
We could buy a house in certain areas of LA - but then we'd have to live there. What's the point of owning a home if you don't like where it is and your commute is insane?
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I see you have been following the market closely. That's great. Leimert Park is a scary place and is not only getting hot but its been hot for about a year or more. We looked at a few flipped properties there a little over a year ago, and thery were already in the 5- 600+ range and that's in the fringe of S central. I have a duplex near there close to USC. West Adams is off the charts if one of those big old homes are restored to its original glory, they sell for loads of money. I knew, when it was the war zone, a young professor from SC hired us to restored this big old home in West Adams 15 years ago. I knew I need to take note because they are coming driving prices up. Todd, I really don't see El Serreno sky rocketing like many of these traditional affluent areas. I think its sitting near the top of their market. The hilly sections will go up a little more, but that's it. It will have to be great buy to make any money there.