REAL ESTATE NEWS (Los Angeles, CA) — The latest number are in. Did loft prices go up or down last month? In the midst of stagflation, the local real estate numbers are dropping. It’s a full on real estate crash in Downtown Los Angeles. Here’s the scoop:
47 listings in October 2021. Down to only 21 listings in Oct 2022.
43 average Days On Market October 2021. 63 DOM in Oct 2022.
21 median DOM Oct 2021. 53 median DOM in Oct 2022.
Median price $560,000. Down from $589,000 last October.
Average price was $677,104 in Oct 2021. Average price $662,600 in Oct 2022.
The total market size has dropped to less than half of last year, as most potential sellers decide not to sell. Properties take more than 50% longer to sell.
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REAL ESTATE NEWS (Los Angeles, CA) — For those who thought that the virus hysteria was a nuisance, prepare for something far worse. The United States has been in an economic depression since the lockdown was placed into effect. The worst economic crash in history was hidden, obscured and papered over by radical Fed policy, along with massive federal government spending. Reality must now set it.
Three years ago to this day, the L.A. Loft Blog warned of the potential for a frightening respiratory contagion. It came true.
2020 virus hysteria and lockdown caused the worst stock market crash in history, the worst GDP crash in history, and the worst employment crash in history. These cataclysmic crashes were censored by the government and mainstream news, but they still happened. They are irreconcilable. The laws of economics do not have feelings. They only have rewards and punishment. Exemplified in history, massive ignorance of the laws of economics such as the Great Depression of 1929, has historically led to massive punishment in the form of economic upheaval, social upheaval and violent international conflict. In our case, the violent economic felony that was 2020 lockdown, must lead to punishment in manner that is comparable in pain to World War 2, which led to one hundred million deaths and incalculable suffering.
While the truth of the virus hysteria has already begun to leak out, the full veracity of lockdown and draconian mandates must be revealed: The virus killed very few healthy, young people. The overreaction was the real killer. Lockdown and overreaction killed twice as many people as the virus, according to Hillsdale College Kirby Center, Washington D.C. Campus Academy for Science and Freedom.
With the recent raising of interest rates to a more normal rate, the real estate market of the United States has revealed underlying weakness and systemic corruption, thus the real estate market has ground almost to a halt. Home prices cannot crash much while they are under the prolonged influence of runaway inflation. Some measures of the real estate market are headed toward abysmal 2009 levels. USA Today has reported that the U.S. is definitely in a housing correction. That correction is being obscured by continued federal government spending, along with overall continued radical Fed policy.
Currently, the United States, Russia and much of the Western World have been set on a collision course with World War 3. An escalating proxy war in Ukraine may already be more likely than not to turn into a direct war between nuclear powers. A crucial line has been crossed, a line between countries at peace and countries at war. The symbol of that line is the “Golden Arches.” The line between increasing peace and exploding hostility is demarcated by the entrance of McDonalds into the former Soviet Union in 1990, to the unfortunate, foretelling withdrawal of McDonalds from Russia in 2022. Friendly competition was the solution to violent hostility. That solution has been removed. Commerce is the prevention of war. That prevention has been removed. President Joe Biden recently admitted that nuclear Armageddon risk is the highest since the 1962 Cuban missile crisis. That crisis was rather quickly addressed and corrected by President John F. Kennedy. Today, we lack a JFK. We are on the wrong road, toward escalation and nuclear annihilation. The Greater Los Angels Area is a large military target of Russian MIRVs, not unlike Hiroshima and Nagasaki. After a nuclear strike, at least 30% to 60% of residents would be killed or injured. Most real estate in Los Angeles would lose 50% to 90% of value.
While today’s obfuscated economic stagnation, price inflation or stagflation could last for decades, as they have in Argentina and other places, chances are that things will either get better or worse in America. There is hope, but only if the spark of hope leads to change. The level of world psychological torture, and worse, the horrific omen of systemic child abuse must be acknowledged and corrected before the world can reverse course to move forward in a positive manner. The unavoidable lessons of economics must be learned and paid honestly. The current path of force, violence, war, death and destruction must be acknowledged and halted immediately. The tyrannical tools of censorship and propaganda must be curtailed. Communists, socialists, dictators and other tyrants must be peacefully put into their place by restoring the peacekeeper that is friendly competition with mutual respect.
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