REAL ESTATE NEWS
As the world descends into economic stagnation caused by virus hysteria, lockdown and tyranny, new fright of war accelerates already out-of-control inflation metrics. There are some ways to mitigate the effects of this stagflation. One of the most effective methods to survive and profit from these conditions is by owning assets that do well during times of economic downturn combined with declining value of the U.S. Dollar and other fiat currencies. These assets include: gold and other precious metals; quality stocks; collectibles; and the king of physical assets, real estate.
When its comes to real estate, some offer more benefits than others. Los Angeles real estate has tendered some of the best ROI return on investment, growth and tax benefits for the last hundred years. One type of real estate in particular pays an additional dividend through greatly reduced property taxes. Historic homes in California can sometimes qualify for this extra tax advantage. Los Angeles is home to numerous Mills Act approved homes, including some amazing lofts in Downtown Los Angeles, which also offer prices near historic lows in some cases.
Unlike many suburban areas in Southern California, Downtown L.A. is in a relatively low-priced area of the price chart compared to other areas of the country. In fact, some lofts can today be picked up for about the same price that they were purchased for more than 15 years ago. Add today’s historic low price to about potential property tax savings in the thousands per year, and it’s a bit more clear how Mills Act properties may be the right investment for those wish to prosper during times of stagflation — especially if they also love condos with outstanding architecture and unique character.
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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, DRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.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.