While the politicians do what they do best, the honest, hard-working professionals provide the truth about what’s really happening with the national and local property markets. | Blog Video
In his video webcast Q&A session, real estate investor Ben Mallah updated us on the tears that he’s been recently shedding because there are currently not enough buyers willing to pay a reasonable price for one of his hotels that he’d like to unload. Warning that we’re in very dangerous times right now, Ben suggests reducing expenses, selling unnecessary property, and keeping extra cash on hand. Mallah says that he’s “taking a beating” because of the crazy virus.
Perhaps the biggest takeaway from the show: censorship is rampant and costly. Like thousands of other Youtubers, Ben Mallah and guests are unable to speak freely, as Youtube demonetizes videos that include colorful language. The video-sharing platform also defunds content for merely mentioning the name of our time’s most relevant viruses. Censorship, exaggeration, obfuscation, emotional turmoil and disconnected markets all indicate that panic and mass hysteria are much more damaging to our physical, emotional and economic health than any virus at the present time.
In Los Angeles, real estate professionals privately discuss the “dead” local housing market. Some pros keep a stiff upper lip, focusing on what little positive news they can find. Other real estate agents have gone broke, changed industries, overdosed and committed suicide. While the number of real estate transactions has plummeted, the more industrious agents are supplementing their income with their own investments including 4-plex rental income, AirBNB, mortgage lending, marketing and cryptocurrency investments.
While some suburban homes continue to rise in value, urban home prices in big cities have been falling precipitously. Commercial real estate has been collapsing as retail and restaurants cannot afford to pay their rents.
The good news is that there are far more opportunities than many might imagine. From shorting stocks to cost-cutting technologies and ecommerce, there may be no better time in history for highly lucrative career changes. Times of crisis and turmoil are precisely the times for the bold, enterprising adventurers to pivot and profit. According Cathie Wood of ARK Investment, today’s leading edge money-making industries include these disruptive game-changers: deep learning, streaming media, electric vehicles, automation, 3D printing, autonomous ride hailing, aerial drones, next generation DNA sequencing, biotech R&D efficiency, digital wallets and bitcoin.
Find out what your neighbor’s loft sold for. Get a free list of recently sold homes in the area. Fill out the online form:
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.
