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Why buy in a rising rate environment?

Just had an interesting conversation with long-term partners of ours that I think bears repeating here. They asked the following (paraphrased) question: Why are you buying now, when interest rates are definitely going up and, therefore, values will be going down? The premise of the question is totally reasonable. When rates go up, prices go

A Race to the Top for housing

By now, pretty much everyone acknowledges that the housing affordability situation on both coasts is a major cause of income inequality and, probably, a drag on growth. Have been thinking about what the next administration could do to improve things. The problem is obviously that cities control zoning and city governments tend to listen to home-owners,

Another ground-up going up

Thought you all would appreciate some pics of a small project we’re building ground-up. The permitting on this one was an absolute bear, but now it’s done, the plumbing is in, the foundation is poured and we’re into framing. Amazing how fast framing goes…  

Maybe my favorite example of insane city land-use

Want to see insane city land-use in action? Here’s a city-owned ~170,000 sq ft lamp-post storage yard: Note its location, 1.5 blocks from a major Red Line stop and three blocks from Sunset Junction, the coolest part of Silver Lake: [Map revised with help from PM – thanks!] At 170,000 sq ft, if this property were

Thinking through the implications of interest rate increases

Right now, the thing on everyone’s mind in real estate is the likely impact of increasing interest rates on asset values. As the economy continues to improve, the stage is being set for the Fed to increase rates in order to manage inflation. The Fed would probably have done this anyway, but Trump’s proposed combination of

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