While Amazon's choice of location for its second headquarters will positively impact the economy of any city they choose, it also brings about the question - what's going to happen to the already tight housing market in Southern California if they choose LA?
With the lowest levels of inventory the area has seen in some time, it's slim picking for buyers. With a surge in population growth with Amazon employees, not to mention the relocation of several NFL teams like the Chargers who planted their feet in Costa Mesa, it's a wonder what would happen next.
Economist Christopher Thornberg said that leaders in LA county are panicked. Plopping 50,000 tech employees in the middle of this housing crisis isn't exactly going to alleviate the situation. Though it may lead to more building, plans for new development and additional construction are not enough to offset the demand.
California Association of Realtors report showed that the state's supply of homes has hit its lowest point in 13 years! We're already one million housing units below demand and, with the imminent changes bringing more people to this beloved state, it's expected that deficit could grow to 2 million in just the next 8 years. As a result, this constrained supply is driving up prices to new highs.
With seven consecutive years of five-star status in Orange Coast Magazine, The Kurt Real Estate Group is among the elite. No matter where they’ve gone, they’ve set record sales. Whether you’re a buyer, seller, or investor, Kurt and his team work diligently, honestly, and with the utmost professionalism and are passionate about helping you achieve your real estate goals.
Kurt is ranked among the top two percent of Coldwell Banker agents nationwide. Kurt’s experience investing in and flipping homes and his connections with the Hollywood Film Industry give him an unparalleled edge and keen insight into market trends. The opportunity presented to you in working with Kurt is why The Kurt Real Estate Group is recognized as one of the top real estate teams in Orange County.
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"Working with Kurt on buying our new home was fantastic!!! He took great care of us through the entire process, going over and beyond the call of duty. Having worked with some other agents in the past, it was easy to see Kurt's knowledge and professionalism were on a different level. I would highly recommend using his services! 5 Stars +++"