Trends in L.A. Real Estate (aka – Dislocation! Dislocation! Dislocation!)

If I wasn’t so busy pulling my hair out from packing furiously for our move, I’d be doing some research on trends in the L.A. real estate market.

Since we got the news just about a month ago that our landlords were selling the house and that we had to find a new place to live, we’ve run into at least 3 other people who are in situations similar to ours. And a good number of people I’ve told our situation to have said, “The same thing is happening to my friend/brother/sister/co-worker/my favorite American Idol singer!” It sounds like property owners are trying to cash in and sell while the market is still crazy hot.

Two days after we found out we had to move, the brother of someone we know found himself in the same situation. Incidentally, that guy (the brother) had helped us move two years ago into the place we lived in before this one. We bought our “new” fridge, washer, and dryer from a girl who had less than a month’s notice to move. Her apartment building was being converted to condos and they had the choice to either buy or move. As I understand it, all but one of the tenants in their building opted to move. Another woman I know was notified mid-month that her building was being put up on the market. I sympathsized as she was desperately trying to find a place that would be affordable, geographically desirable for her situation, and (most importantly) would also accept her dog.

Maybe it’s just my heightened awareness of these situations, but it seems that a number of folks are being dislocated and are scrambling around to find new homes to rent.

Our new apartment will be the fifth place I’ve lived since 2000. We had planned on staying at our current place until we could stop being renters and make the leap to becoming home-owners, but for now, my most pressing issue is getting our crap out of our current place and into our new one.

In the next three two days. Eeek.

One Reply to “Trends in L.A. Real Estate (aka – Dislocation! Dislocation! Dislocation!)”

  1. You’re not imagining it. I see it pretty often too.

    It’s tough for the owners because they see that duplex or whatever that makes a bit of money with the rent suddenly become this very expensive piece of property and they are, after all, in this to make money, and they cash out.

    It’s sad that they can’t provide a bit more notice to folks and perhaps help with the move. With everyone shifting around, rent control/stabilization does no good.

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