Edward G says:
Owning is about investing rather than spending. Renting is pure spending because the money pays the landlord’s mortgage while owning pays your own mortgage. The net wealth of the average Los Angeles loft homeowner has NEARLY DOUBLED in 3 years!!! Compare those results to the average rent increase, which has been more than $400 per month!!! In total dollar amounts, the average Downtown loft owner has gained $300,000 while the average renter lost about $100,000. That is a very dramatic difference between owning and renting.
The L.A. Loft Blog has been watching where the money is going. The billionaires are betting their billions that HUGE rent increases are expected in the future.
LOFT & CONDO LISTINGS DOWNTOWN L.A. [MAP]
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