Hi all! I have been wanting to house hack in Los Angeles now for some time and have found properties that seem to work even in this expensive market. I am currently looking mainly in North Hollywood and East LA (glassell park, eagle rock, etc)
My main question is if now, because of the looming economy issues and the ongoing pandemic problems, is an unwise time to try to make this work? My main concerns are a lot of vacancy and house values crashing.
Is there still a consensus that LA will continue to see home values rise or is now a better time to hold on to my cash and see if there is a drop in home prices?
Investor · Los Angeles, CA · Member since 2019 · 127 posts · 63 votes
6y
I'm in the wait and see camp. There is too much going on to accurately gauge if "now" is the right time to buy. Plus, I was seeing a correction coming before the pandemic. If I was correct, the pandemic certainly won't have changed that.
Developer · Los Angeles, CA · Member since 2020 · 90 posts · 50 votes
6y
Wait for the eviction/rent/foreclosure moratorium to expire and let it sit for 90 days. Our lovely city and state officials are helping to brew a bigger bubble than 2008.