Despite a boom of apartment building, the condo market in downtown Los Angeles remains tight as a drum. And that’s pushing up prices, reports LaTi.
The price per square foot of a new condo downtown climbed 6% in March from February to $656, according to a new report from the Mark Co.
Mark said, there were only 27 new units for sale downtown, and the inventory of existing condos for sale would burn off in less than three months -- half of what’s considered a healthy supply. Prices for condo resales are 23% higher than a year earlier, at $534 per square foot.
Fed better raise interest rates fast. Drive up unemployment now. Drive down wages! Condo prices are rising in LA. Eliminate fractional reserve banking entirely. Return to Honest Money as required by the old testament.
ReplyDeleteYou've been active today Jerry. Day off from making lattes and frappuccinos?
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