Results for ‘Development’ category

Seeing the matrix

Do you remember The Matrix, the amazing 1990s sci-fi flick with Keanu Reeves? In it, Keanu’s character learns to see the numbers behind the invented reality he inhabits. Why am I talking about this on a real estate blog? Because it occurred to me this morning as I was taking out the trash from our office that

History repeating?

Back in the 1980s, Japanese companies flush with cash acquired a ton of office buildings (and maybe hotels, too?) in LA at very high prices. In the recession of the early-to-mid-1990s, they got their asses handed to them. Now, there is a wave of Chinese developers flush with cash buying up office buildings, hotels, and

The math behind discovering a new neighborhood

As prices continue to rise for the kind of beat-up, badly managed assets that are our bread-and-butter, we are spending more time looking at new neighborhoods. Am I going to tell you which ones I’m focusing on? No, because a bunch of people who compete with me read this blog. But I will share with

City growth, affordability and the decline of the middle class

The NY Times has an interesting piece today on middle class people leaving increasing expensive coastal cities (SF, NY, etc.) and going to more affordable cities in the interior of the country. The underlying dynamic is pretty straight-forward: Without the liar’s loans that were available in 2005-6, there’s no way for middle class people with stagnant wages

Airbnb and the Ellis Act

There’s a big fight brewing up in SF over landlord’s use of the Ellis Act to get into the short-term rental business. What’s the Ellis Act? Well, in CA, the law is that no one can force a landlord to remain in the rental property business. So, the Ellis Act creates a procedure whereby a

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