Los Angeles Housing Crisis Spins Out Of Control – Bunk Beds Rent for $1,000

REAL ESTATE NEWS

Los Angeles, CA  —  Young middle-class travelers need to be pretty rich in order to sleep these days.  In the same areas where wealthy folks are paying less than $4,000 per month mortgage to live in multi-million dollar 2,000 Sq Ft Downtown loft condos, Huffpost reports that  the average tourists / traveling students drop $1,000 per month to claim a small bunk bed.

Lacking privacy and with limited storage, visitors usually only have one suitcase of belongings.  Visitors pay for a bunk in a large room occupied mostly by other young people

These co-living spaces are emerging as an alternative for people who want to live near popular urban centers but are otherwise priced out. These modern-day hostels appeal especially to young professionals who are building their careers, and have paychecks too small (and student debts too large) to buy a house or rent a full room. #housingcrisis #podshare #losangeles

Downtown Rental Prices Mostly Up For September

Rental prices were up a bit in September.  According to MLS statistics, the average rent in the Downtown Los Angeles area was down a bit from $3,108 in September 2018 to $3,070 in Sep 2019. The statistics skewed up because of a few pricey luxury lofts that leased for upwards of $25,000 per month.   Most renters saw an increase, however, as median rent jumped from $2,750 in Sep 2019 to $2,800 in Sep 2019. The lowest priced rental units climbed from $1,200 in Sep 2018 to $1,375 in Sep 2019.  The rich got richer while the poor got poorer: The wealth advantage was apparent as the more expensive rentals dropped a bit in price while the cheaper rents went up substantially.

Here’s a helpful bit of advice for those who need to get a good deal on a rental! Save bundles with hard-to-find rental deals by taking advantage of the little-known L.A. Loft 3 Hour Tour 1-888-381-5588 or visit www.LALoftTour.com

Get a free list of rentals, along with details on the upgraded tour of amazing loft deals. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

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Hard-to-find rental deals on the LA Loft 3 Hour Tour 1-888-381-5588
Save big with hard-to-find rental deals on the LA Loft 3 Hour Tour 1-888-381-5588

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.

Skid Row is the New Arts District in Downtown LA

Skid Row Arts Festival This Week, Events District and Bike Registration

Valentine Event Space 4th Street Downtown

Previously, the L.A. Loft Blog has called Lincoln Heights “the new Arts District,” and today we’re calling Skid Row the new Arts District as well.  Let’s compare the three evolving neighborhoods and take a look at where they are today, where they’ve been and where they’re headed. #dtla #skidrow #arts

Blight and struggle are the root of much creativity, while suffering and toil are often considered to be linked to salvation and redemption. While the Arts District of Downtown L.A. is now one of the most expensive real estate neighborhoods on planet, with average selling prices approaching $900,000, the Arts District was forged through the challenges of LA’s neglectful urban blight period from the 1970s through 2000.

Arts District Downtown Los Angeles Lofts & Condos For Sale

Artists see beauty in run-down buildings and neighborhoods, especially if the buildings were from creative beginnings with industrial and historic architecture. As industrial neighborhood rents stagnated for decades, thousands of artists were able to take advantage of the economic large spaces where they could create oversized works with relatively cheap production costs. Today that has changed.  Due to gentrification of the once-affordable loft neighborhood, most struggling artists have been forced to live in Skid Row or the desert areas. Some successful or lucky artists have been able to move to places like the Alta Lofts in Lincoln Heights, with nicer, larger and cheaper lofts for sale.

Festival for All Skid Row Artists
Festival for All Skid Row Artists

Take your broken heart, turn it into art. Today, the most economical (and blighted) place for artists to live in urban L.A. is Skid Row in the middle of Downtown Los Angeles.  While it’s best known as Southern California’s capital of poverty and homelessness, the city center provides the economy and challenges that launch and foster a wealth of creativity.

Festival for All Skid Row Artists Nov 3-4, 2018

Created by the Los Angeles Poverty Department, the 9th annual Festival for All Skid Row Artists has become one of the most anticipated grassroots cultural events in the vibrant artistic community.  It’s an occasion to celebrate and preserve the rich artistic heritage of Skid Row.

Since 2010, every year on the 3rd weekend of October (normally in Gladys Park in Skid Row), the festival encourages neighborhood artists, well-known and soon to be discovered. It will be in San Julian Park this time. The Los Angeles Poverty Department helps by collecting information about the artists, documenting their work and keeping a registry of Skid Row artists, which now numbers more than 700.  #events

Skid Row Arts Festival November 3 & 4, 2018 each day from noon – 4pm at SAN JULIAN PARK, 312 E 5th St. Los Angeles, CA 90013

SKID ROW EVENTS DISTRICT

The best hope for solving the problems of Skid Row requires public and private funds with efforts stemming from a revolutionary idea such changing California laws to create a family-friendly Skid Row Casino District entertainment area that could generate billions required to fully clean up Skid Row and house the bulk of the homeless while creating hundreds of new businesses and many thousands of new jobs.

Valentine Event Space – Cindercone Bar by Artist Josh Beckman

Until that happens, we have smaller steps that are already occurring to beautify and employ city center resources and nearby talents. One example of this re-invention is Valentine, a unique event space for weddings, receptions and productions among bountiful art, verdant gardens and storied historic industrial architecture.

These beautiful events and powerful creations build on Downtown’s energetic history to illustrate today’s exciting potential and to manifest bright future possibilities for the coming new Arts District.

Nearby lofts that are affordable and popular with Loft Blog readers include Little Tokyo Lofts and Santee Village.


PROTECT YOUR BIKE WITH REGISTRY

The Los Angeles Police Department uses Bike Index to aid owners of stolen bicycles to recover their possessions.  The website has helped to reunite more than 5,000 owners with their lost or stolen green mode of transportation.

Bicycles, and bike theft, are growing in popularity in DTLA. To protect your set of two wheels, register it free online at www.bikeindex.org


Affordable Lofts —  Creativity is contagious. Hanging out with artists increases access to creative resources, ideas, motivation and opportunities.  Get a free list of affordable lofts. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | PopularLuxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

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.