Depression and Disease Portend Downtown Distress #dtla #realestate
After the L.A. real estate peak of 2018, homeowners remain confident, even as prospective home buyers grow fearful. #news
The median Los Angeles single home price soared to $950,000 in 2018. In the same three-month period of August-October 2019, that price has begun a soft rebound, at just $500 less. Reinforcing the moderate decline is the slightly spooky news that L.A. homes are now taking longer to sell, as the median days on market grew from 28 to 33 days.
While the city as a whole is still awash in cash thanks to wealthy westside residents and investors, the loft neighborhoods around Downtown are quite a bit spookier, with recent months showing blood-curdling property value declines of 7%. This deathly drop is definitely not lucky.
Respected mainstream financial sources, such as Forbes, have recently begun to report chilling economic news that Americans are destined to struggle for survival in a zombie economy of stagnation where the US federal government increasingly follows European, socialist-style actions to create zombie banks, zombie companies, along with artificially conceived unicorns, resulting in a stunted economy. A large stock market crash could appear as the most spine-chilling possibility of all, stealing a huge sum of wealth almost overnight, causing distress, leaving almost nowhere to run. | VIDEO
A year ago, the L.A. Loft Blog reported horrifying Halloween news of tent city rat-infestation and typhus disease. The good news is that the number of cases has dropped by about 50% since last year’s peak — but now, some doctors see the specter of something potentially even more creepy.
We can rely on Hannity to bring us a big Halloween scare, with reports of local homeless deaths rising by 50% since 2013. Dr. Marc Siegel, a doctor of internal medicine at New York University’s Langone medical center, has warned that neighborhoods pack with poverty, such as sprawling Skid Row, could spawn a sinister resurgence of other ancient frightful diseases, including leprosy. Inadequate shelter and hygiene ignite the perfect cauldron for a contagious disease that is transmitted by nasal droplets and respiratory secretions. Because it usually takes about three years to diagnose leprosy, a massive outbreak could sneak up on us, growing and spreading silently. Then, all of a sudden, reports of an outbreak could lead to petrifying panic of biblical proportions as Skid Row transforms into what many might see as a terrifying leper colony, plagued by festering sores, eye disease, decay and amputations.
Trick or Treat! Happy Halloween from the L.A. Loft Blog!! Enjoy the festive Downtown holiday events.
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Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Broker, CalDRE#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.