RENTERS…stop paying the outrageous rents of paying someone else’s mortgage!!!! Pay your own! Get Some Real Estate!

LA Rents Going Up Three Times as Fast as San Francisco Rents

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So Los Angeles rents have wiggled their way up yet again from the last quarter, with the median rent for all units now hitting $1,865, says the third quarter data out from rental site Lovely. The median had fallen a bit in the second quarter (to $1,795), but now it’s up higher than before (at $1,850 in the first quarter); more glaringly, that number represents a sizable 10.36 percent increase over the median rent for the same time last year. (That’s three times the increase that San Francisco’s notoriously insane rates saw this quarter; there’s less room to grow there.) One bright spot: studio units are actually cheaper than they were this time last year, although still more expensive than they were last quarter. Later this week we’ll look at the neighborhood-by-neighborhood, but it’s no shocker that Bel Air, Pacific Palisades, and Venice are all in the top five.

Median rents by room. >>
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Signora Recession, Heeeeeeeeellllo Real Estate Market!

The American Dream Digitally Re-mastered!

A stagnant economy has largely suppressed the aspirations underlying the American Dream for many consumers in recent years and appears unable to deliver on the promise of a better future. But the recession mindset is receding and pent-up aspirations are coming to a boil. Now, consumers are finding inspiration for their aspirations in the wave of digital technologies that are creating sweeping cultural change.

Real Estate in L.A. is so hot right now!

L.A.’s appeal among techies is spreading beyond the mega-rich, with tech industry buyers from Silicon Valley spending more and more time in the Southland/L.A. — and snapping up real estate here. They include Facebook and EBay executives as well as angel investors and start-up entrepreneurs.

“We’ve seen an uptick in buyers from the technology industry over the last several years — some moving to Los Angeles and some buying second homes here, as a kind of peaceful retreat,” said Charles Black, executive vice president of marketing and strategic development at Hilton & Hyland.

Those who have put down roots in L.A. cite a mix of personal, financial and work-related reasons: Compared with the Bay Area, the weather is warmer and the lifestyle more laid-back. With San Francisco home prices at staggering highs, SoCal means more space for less money.

And with a growing tech scene, plus the lure of tech-entertainment content partnerships in Hollywood, there’s more business to do in L.A. In 2014 the Los Angeles-Long Beach region broke into the top five metropolitan areas by venture capital investment for the first time, with 171 deals totaling $2.05 billion, according to the National Venture Capital Assn., whose records go back to 1995. Keep Reading…