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Stucco Apocalypse: Now Is The Time To Buy!

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Ken Layne is the West Coast editor of Each week he makes another ridiculous claim about his LAist feature: This week, it's apparently a real-estate column or something!

How about paying $1,500 a month for 30 years for a no-bedroom loft over a single-car garage in a cramped corner of Echo Park? With six grand per year in property taxes and insurance and maintenance, that's $24,000 a year for three decades -- $720,000 in all, not counting property-tax and insurance increases, and not counting catastrophes.

That's what you get at 1416 Fairbanks Place, just off Echo Park Avenue north of Sunset, for the asking price of $295,000 or $893 per square foot, not quite double the 90026 norm.