As you may know, US companies have something like $2T in cash sitting overseas because they don’t want to pay 35% corporate income tax to bring it back on-shore. President Trump is apparently working on a proposal to allow companies to repatriate those profits at a much lower tax rate – something like 10-15%. The

Thought you guys would appreciate seeing some pics of our latest 4plex project, which we’re just finishing up. This was our first and, likely, last project in Santa Monica, which is definitely not friendly to developers like us. I’d put in the contact for the leasing agent, but all the units leased in the first

Thank goodness for old friends. An old schoolmate, AL, who sees my posts on Facebook, pointed out a key potential implication of Trump’s election that I missed in yesterday’s post: the effect on construction pricing. I expect that Trump’s election will have the effect of materially increasing construction pricing over the next few years, for

Posted this on Facebook this morning, but thought some of you might be interested as well: Predictions re the economy: 1. Trump trades very large tax cuts for large infrastructure and defense spending. Sub-prediction: The infrastructure spending goes to private contractors, not state / local governments, to avoid empowering public employee unions 2. Deficit and

For most businesses, the problem is demand. In other words, they can make an infinite amount of product; the issue is how much they can sell. In our business, interestingly, it’s the total opposite. There is a structural imbalance in LA between the number of apartments (growing slowly) and the number of people who want