Originally posted by @Miguel De Dios :
Same situation here. But I have $30k. I have never invested. I do drive all day and have notice lots n lots of open leases, vacant businesses,properties for sale, apartments for rent. this looks dangerous like everybody is leaving somewhere else. I'm in Los Angeles.
Miguel, I'm in L.A too. What part of L.A are you seeing this. It's a huge city of course and I see it more in parts of the city versus other parts. Apartments for rent and homes for sale happens in a good market too. Usually those apartments get rented in days and homes under contract in a week or less is what it seems like...as long as they are priced right.
I know with commercial things can be slower and it can take longer to rent and sell them though.
There will be a downturn at some point, but I'm not seeing any signs of it right now and haven't heard anything else about it.
A lot of people do leave L.A for other cities, especially Texas these days...but then they get 'replaced' with out people that are often higher income earners. This is what helps to increase prices and gentrification as well.
You don't really see this for example in many smaller cities across the country as it's mostly a local population living there without too many people moving in and out.