What would it take to bring down L.A property values (Westwood: crime, mortgage)

[RCLL]

If you currently own real estate, thats the last thing you want to have happen. Perish the thought.

[Csonka]

Higher interest rates?

[majoun]

Higher interest rates and the repeal of Prop 13.

[checkup]

LA's real estate isn't that bad: NYC and SF/SV are significantly worse; the inner core of Chicago and most of DC and NoVA are about as bad. I think Seattle and San Diego are close too

Some less violent and outlandish things could cause a decline in LA property prices (as well as property prices in many other places)
-repeal of Prop 13
-higher mortgage rates
-end of mortgage interest deduction (or a significant reduction, possibly in an indirect form like caps on total itemized deductions)
-another recession, which could come from too many gov't cuts, EU crisis, or student loan crises
-ending all forms of gov't support/subsidization of housing like FHA, Fannie/Freddie, etc.
-overbuilding of housing in this new up-cycle
-poor city design leading to blight
-more and more unfriendly business policies in CA and LA that causes a real and significant exodus

[Ruth4Truth]

Originally Posted by jm1982

I sometimes wonder what would it take to bring down L.A property values significantly.

A water shortage.

[Count David]

You know the scene in Terminator 2, during Sarah's dream in the desert, when she sees John playing at the playground and can't get to him because for some reason she's stuck behind a chain link fence (and then proceeds to become a skeleton and all that).

Yeah, that.

[Marv101]

The number one culprit for housing prices out here is the stranglehold which environmentalists and the 'no-growth'/'slow growth' zealots have had on everybody in Sacramento for decades (including our governor), as well as the obnoxious zoning restrictions for vacant land out here which are non-existent elsewhere.

Economics 101 lesson---restrict the availability of any commodity, and the price will soar.

The politically driven move towards infill housing (apartments as opposed to SFRs) is also sending housing prices upward, and our mayor has done a ton of damage in that regard in driving out the middle-class at the insistence of developers; look no father than central Hollywood, where real estate prices are bound to soar thanks to those same idiotic anti middle-income family restrictions.

[Marv101]

The number one culprit for housing prices out here is the stranglehold which environmentalists and the 'no-growth'/'slow growth' zealots have had on everybody in Sacramento for decades (including our governor), as well as the obnoxious zoning restrictions for vacant land out here which are non-existent elsewhere.

Economics 101 lesson---restrict the availability of any commodity, and the price will soar.

The politically driven move towards infill housing (apartments as opposed to SFRs) is also sending housing prices upward, and our mayor has done a ton of damage in that regard in driving out the middle-class at the insistence of developers; look no farther than central Hollywood, where real estate prices are bound to soar thanks to those same idiotic anti middle-income family restrictions.

If you think taxes are high now, just wait until Governor Moonbeam proposes another huge tax increase when the 'projected' $6,000,000,000 in new revenue from Prop. 30 misses estimates by 75% or more, which is a foregone conclusion.

Toss in the 3,500,000+ folks who've left the state over the past two decades according to Joel Kotkin, which will also be devastating for this state's finances thanks to the hyper-progressive agenda running rampant in Sacramento.

[Captain Obvious]

[BelieveIt]

crime is the fastest way.
it'll take about a year or even less.
you just need a string of incidents escalating ... with less than 3 weeks apart between each incident to stay in the media.
and the reputation would last 10 years. and it'll be news nationwide.

sure you can have natural disasters, poverty, droughts.... and so on, but in 10 or so years, the prices would be the same.
I've thought about this so much when I used to play SIMs
believe it or not, i had to keep putting up street lights and pay more $$ to the SIMs police department.