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.
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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.