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The Hollywood real estate connection: 400 square feet for the creative type of buyer that enjoys spending money.
doctorhousingbubble.com / Dr. Housing Bubble / October 14th, 2015
I love the hipster perspective when it comes to selling homes in certain SoCal enclaves. Some areas use subtle language like “creative” or “artsy” location meaning they want you to be the new wave of pioneers that gear up and gentrify a neighborhood. Los Angeles is a massive area where per capita GDP isn’t as high as people like to believe. This reality based on household income has led us into a precarious situation where renter households and owner households are living on the edge when it comes to meeting monthly bills. Renters spend nearly 50 percent of their income on paying for a lease while homeowners are blowing through 40 percent of their income. Most mainstream reports never bother on showing you what you get with the actual money you put down. Today we highlight a wonderful little house in East Hollywood.
The glamour and glitz of East Hollywood
If you are not paying attention, the amount of housing fluff and real estate reality TV is back to peak levels. People are diving back into the housing game and are throwing caution to the wind. Again, if you buy right you are fine but many people (once again) are buying with maximum leverage. There is virtually no cash flow investor deals for the buy and holders. Any investor purchase is largely aiming for continued appreciation gains. In certain prime locations investor and foreign money is dominant crowding out regular households. Bring cash or go home.
The post The Hollywood real estate connection: 400 square feet for the creative type of buyer that enjoys spending money. appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/10/15/the-hollywood-real-estate-connection-400-square-feet-for-the-creative-type-of-buyer-that-enjoys-spending-money/
