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Old 08-22-2015, 08:09 PM
 
Location: Hollywood, CA
1,576 posts, read 2,411,198 times
Reputation: 1100

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Mainly a mix of Upper-Middle to Upper class in beach areas with a large number of Homeless and Vagrants. And more working class near Sepulveda Blvd. Venice is one of those places where you see a Whole Foods next to a 99 Cent Store. Lol.
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Old 08-23-2015, 01:21 AM
 
Location: Armsanta Sorad
5,660 posts, read 6,595,803 times
Reputation: 2429
Definitely upper class. It's been only affordable for millionaires since at least the 1990s.
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Old 08-24-2015, 06:43 PM
 
Location: Playa Del Rey
180 posts, read 143,460 times
Reputation: 181
Short-Term Rentals Are Taking 11 Units Off the LA Rental Market Every Day - Rentally Deranged - Curbed LA

^ this is going to have an interesting effect on Venice / SM / Hollywood area real estate.
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Old 08-27-2015, 11:15 AM
 
Location: Los Angeles (Native)
24,322 posts, read 13,801,620 times
Reputation: 11491
Quote:
Originally Posted by PDR2015 View Post
Short-Term Rentals Are Taking 11 Units Off the LA Rental Market Every Day - Rentally Deranged - Curbed LA

^ this is going to have an interesting effect on Venice / SM / Hollywood area real estate.
This is not surprising. Landlords can often make several times the rent.
I don't think it should be regulated. I'm very wary about regulating what private property owners can do with their own properties.
I know there are a lot of people that rent their places monthly and then rent them out on airbnb..this is different though. It seems that could be a violation of a lease. I know there are stories of landlords finding out about this and getting really upset.
I think the idea of owning a multi family building and then renting the units on Airbnb could be interesting and lucrative...and kind of like running a mini hotel of sorts. Of course L.A property is so expensive now..but returns are likely to be higher renting by the night versus the month

L.A is very pro tenant it seems..or at least wants to politically appear pro tenant to the public/media.
I know there was recent talk of them doing this in Paris..because a lot of units were being rented to tourists rather than locals.

Doing these types of regulations are easier than actually doing what needs to be done...Getting more housing built.
I know the Mayor has a goal of getting a lot more housing units built , one place is to allow development on L.A River land..this land needs to be cleaned up though too..will be interesting to see what happens.

I think the best thing would be to build up other parts of L.A county where there is a lot of cheap land and have some kind of high speed train going into L.A
Antelope Valley--Palmdale /Lancaster makes the most sense.

Of course there are lot's of single family homes that could be made higher density if zoning laws are changed..but I don't really see neighbors going for that.


I suppose that L.A could use some kind of imminent domain in order to do this...but it would be a big battle and many lawsuits. People get attached to their homes...even if they can sell for way above market price.

The big problem is that land in the city of L.A is so expensive that it's pretty much impossible to build affordable housing here.
Of course higher density can bring costs down because the developer is using less land..but still. It also doesn't seem L.A allows high density in most areas.

In regards to AirBNB there are also a lack of hotels in L.A ..I know that there House of Blues site will now be a hotel..and it sounds like this has been in the words for a long time...along with other hotels.
Most of these new hotels though won't be affordable for many tourists.
Budget travelers are more likely to look at Airbnb options.

Airbnb is valued at $24billion...more than Marriott ..and Airbnb doesn't own a single hotel room
The Secret Math of Airbnb

Uber is valued at $50billion and they don't even own a car , it's pretty amazing this sharing economy thing.
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Old 08-27-2015, 06:18 PM
 
Location: Playa Del Rey
180 posts, read 143,460 times
Reputation: 181
Quote:
Originally Posted by jm1982 View Post
This is not surprising. Landlords can often make several times the rent.
I don't think it should be regulated. I'm very wary about regulating what private property owners can do with their own properties.
I know there are a lot of people that rent their places monthly and then rent them out on airbnb..this is different though. It seems that could be a violation of a lease. I know there are stories of landlords finding out about this and getting really upset.
I think the idea of owning a multi family building and then renting the units on Airbnb could be interesting and lucrative...and kind of like running a mini hotel of sorts. Of course L.A property is so expensive now..but returns are likely to be higher renting by the night versus the month

L.A is very pro tenant it seems..or at least wants to politically appear pro tenant to the public/media.
I know there was recent talk of them doing this in Paris..because a lot of units were being rented to tourists rather than locals.

Doing these types of regulations are easier than actually doing what needs to be done...Getting more housing built.
I know the Mayor has a goal of getting a lot more housing units built , one place is to allow development on L.A River land..this land needs to be cleaned up though too..will be interesting to see what happens.

I think the best thing would be to build up other parts of L.A county where there is a lot of cheap land and have some kind of high speed train going into L.A
Antelope Valley--Palmdale /Lancaster makes the most sense.

Of course there are lot's of single family homes that could be made higher density if zoning laws are changed..but I don't really see neighbors going for that.


I suppose that L.A could use some kind of imminent domain in order to do this...but it would be a big battle and many lawsuits. People get attached to their homes...even if they can sell for way above market price.

The big problem is that land in the city of L.A is so expensive that it's pretty much impossible to build affordable housing here.
Of course higher density can bring costs down because the developer is using less land..but still. It also doesn't seem L.A allows high density in most areas.

In regards to AirBNB there are also a lack of hotels in L.A ..I know that there House of Blues site will now be a hotel..and it sounds like this has been in the words for a long time...along with other hotels.
Most of these new hotels though won't be affordable for many tourists.
Budget travelers are more likely to look at Airbnb options.

Airbnb is valued at $24billion...more than Marriott ..and Airbnb doesn't own a single hotel room
The Secret Math of Airbnb

Uber is valued at $50billion and they don't even own a car , it's pretty amazing this sharing economy thing.

People always ask when will _________ be gentrified or cleaned up. The answer is pretty simple really - when the surrounding areas become too pricey, there will be enough speculators / desperate buyers willing to take the risk.

Venice is most definitely an upper class neighborhood being one of the most expensive. When you have rent/sqft in the $4 range and Price/Rent at 22.5, how else can you define it? There is a very high correlation between "class" and price.
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Old 08-27-2015, 10:17 PM
 
585 posts, read 629,133 times
Reputation: 502
The Oakwood area in Venice hasn't changed in 45 years. Until the gangs are gone from that area Venice will never be "high class".
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Old 08-28-2015, 10:55 AM
 
10,847 posts, read 10,629,797 times
Reputation: 7539
I remember 12-13 years ago Venice was considered a dump.
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Old 08-28-2015, 01:07 PM
 
808 posts, read 665,190 times
Reputation: 923
I find it amazing that Venice has rental rates and home prices as high as it does. Although there are some nice homes in the canals and a couple other spots, Venice is still a dump and an absolute freakshow to me.

And most times I hear Venice on the news, it's not good news. I would never want to raise a family there and walking outside to lots of vagrants doesn't seem to warrant the expense unless those things don't bug you and you highly value being by the beach.
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Old 08-29-2015, 09:40 AM
 
Location: Los Angeles (Native)
24,322 posts, read 13,801,620 times
Reputation: 11491
It looks like the homeowners / residents are getting fed up with the status quo . I don't blame them .
For a long time certain behavior was accepted because of a "live and let live " and hippy/ bohemian outlook ... But there have been several " homeless" have engaged in criminal activity . One gruesome example was a pregnant woman that was murdered by a homeless person . It's interesting the stories you find that barely make the news .
I'm sure stories like that wouldn't help home values .. Or the city politicians etc.
just like when there were multiple shootings and killings in palms and it was barely covered by la times .
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Old 08-29-2015, 09:48 AM
 
Location: Los Angeles (Native)
24,322 posts, read 13,801,620 times
Reputation: 11491
Homeless won the homeless lotto in Venice!

$1M win for Venice homeless cited for living in cars - MyNewsLA.com

"Come to Venice and sleep in your car and get rich" ... Wow
The court system is insane and wasting so much taxpayer money on these payouts brought on by opportunistic lawyers .
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