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L.A. Housing Market Recovery by 2029 the Latest?
That's according to this map posted to Chicagoist via The Real Deal. California may have "recorded its fourth consecutive month of year-to-year increases after more two years of declines," according to the Associated Press, but full recovery in L.A. County might not be seen until sometime between 2020 and 2029, says data collected for the above map from Moody's, Firstserve and the Federal Housing Finance Agency.
Foreclosures increased a tiny bit last month--some are even going for strategic defaults--from 43.8 percent to 44.3. The all time high was 58.8 in February 2009 and since then, Southern California's "median price rose 10 percent to $275,000," up from $250,000, noted the AP.
At least L.A. will have 12 new transit projects by 2029. That is, if Villaraigosa's 30/10 plan goes through.
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You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
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