Los Angeles is a vibrant city seemingly in perpetual renaissance with a Global trajectory. Now more than ever, Los Angeles, the city that declared itself as such in April, 1850, is now the 2nd largest metropolis in the United States by population. Los Angeles continues to grow, and people come to live here for the predictable year-round sunshine and active-lifestyle, as well as almost limitless talent pool in a spectrum of business, finance, entertainment, education, manufacturing, technology and the list goes on.
Beyond a popular national destination, Los Angeles is fast becoming a Global one. There are roughly 200 ethnicities that call Los Angeles home: Truly a city of global diversity.
Homes and real estate are built on the land and “open space” model, as opposed to a vertical, high rise living. Yes, new construction is changing all that, because global cities of the future will be built around the live, work and cultural center with their unique identities.
On a national scale, Los Angeles is ranked about the 6th highest home price and affordability in the US based on price per sq. ft. Globally, Los Angeles is still a real estate secret and a great global value. There is clearly room to grow in home prices and value here.
The US and Los Angeles home buying opportunities are today…. Don’t hesitate: Interest rates are at a low, inventories are rising, and value buys exist in many neighborhoods.
Consider the scale of the today’s LA Renaissance:
- Infrastructure Investment of $120 Billion over 40 years for transportation and expand public transportation.
- 28 by’28. The Summer Olympic and Paralympic games in 2028 with 28 designated public projects to be completed. LA Stadium a world class sports and entertainment complex to be completed in 2020 and a host to the Super Bowl in 2021.
- San Pedro/Long Beach The # 1 Shipping Port in the Western Hemisphere.
- LAX. Los Angeles International Airport. #1 Origin and Destination Airport in the US and 4th Biggest Airport in the world with 87.5 Million passengers served in 2018. $14 Billion + ongoing capital improvement projects.
Windows of opportunity come and go as do fluctuating markets. However, the historical rolling market average in Los Angeles residential real estate out-paces inflation, appreciates over time and you live in a city with the reputation of “stars by day,” and sunshine “365 days a year.” Neither is wholly true, but the experience and lifestyle in Los Angeles will deliver on its investment and global reputation.