Some Insightful Downtown Commentary
“I think the obvious point is that those that would be attracted to a downtown lifestyle — the young, the childless, those too busy for any sort of maintenance or yardwork, the retired — need cheaper units than those being sold.
I don’t think the downtown renaissance is a lie, but, for most people $600k properties are move-up type properties. And by the time most families can stretch to that kind of money, there are usually kids involved, which makes downtown undesirable.
Downtown needs to focus on first-time buyers and retirees. (Or, it needs to build a miraculous, fantastic, safe charter school that will serve to attract families.)”
A commenter on the LAT real estate blog.
