Look on the bright side. Downtown LA

The Bus Bench found this great little piece of real estate walking around downtown last week.

It’s called a fresh air loft. In the 1990s, it was very common among homeless residents, but now lots of young professional have discovered the convenience of fresh air living.

For only $10,000 dollars (which is a discount of 23% and includes a gym membership at the beautiful cemented Pershing Square) you can have a full skylight, a view of the city and urban living. You’re right next door to the bus stop, I mean you’re literally right next door. You just roll out your bed and you can pop on the bus.

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Some facts from AFP: The US has lost jobs for six straight months.
America needs to create 100,000 jobs per month in order to absorb everyone into the labor market, last month the US lost 62,000 jobs.

Drops from 2007 in real estate prices:
LA down 23%
Orange down 23%
Riverside down 28%
San Bernardino down 30%
San Diego down 22%
Ventura down  26%

So it’s not just the Inland Empire bringing down the real estate prices…

Are we there yet? (There being a recession.)

-The Bus Bench

Comments

[Gary K.]

LOL. It's funny because it's almost true. So many places popping up promoting this idea to live like the starving artist you wish you were, for only a million dollars & its pre-furnished.

[Browne]

I don't know if you should be mad at the developers for being so greedy or make fun of the people who would be so stupid that they would live like a starving artist at premium prices.

Then people get mad because of the homeless people, but all of the homeless people were there when they moved in.

I don't get this place.

Browne

[alienation]

Yeah, that's some kind of weird sense of entitlement, when you move into some place and think the people who are already there don't belong there.

Kind of like how Europeans (and other imperial powers like Japan, China, Arabs, etc.) think of the indigenous people.

Oh yeah - Dr. housing Bubble says we'll have hit some kind of bottom in 2011, when all the mortgages have finished crapping out.