[quote=flu][quote=The-Shoveler]I would not want to be the investor in these high end downtown apartments when the fad fades, but that is just my opinion.[/quote]
There’s a need for luxury apartments, and there’s demand for it provided the economy is good.
However, I wonder once the economy turns south, just how much “luxury apartments” demand will there be.
I don’t know, I guess some people who are use to New York City rent prices might think things like One Paseo is a great deal… But exactly how many people would like to spend this much on housing that is not even their own… I don’t know.
Then again, many Americans do like bling, and how I choose to use my money isn’t necessarily representative of how most Americans use their money….[/quote]
IMO I think when it comes to the new downtown Luxury apartment fad (especially in downtown LA) it is already starting to fade (not enough Jobs near there) they have to get on a freeway and drive north to the Burbs mostly.
Maybe the same for SD downtown I don’t know.
LA was kind of developed backwards since the 60’s LOL
The Jobs and biggest companies are in the Burb’s.
A lot of the recent homelessness was caused by bad policy that forced gentrification of the downtown LA area displacing a lot of working poor, maybe it will self correct.
