All Forum Posts by: Michael Sherrill

The biggest net negative impact from COVID is not housing initially, but the "value" of neighborhoods. If you're in CA in a GOOD/GREAT school district, you have a net WIN. If you are single/moving for great, funky small businesses and restaurants, those are not surviving. Munis will need a Marshall Plan (and not just in CA) to keep/recreate that diverse small business character which made many neighborhoods fun, interesting places to live. That will put a drag on rents as it takes away some of the interactivity of living in a place. Weather you have left is the weather and geography, access to outdoors, which remains. For movie/TV/Aerospace/etc, the year-round appeal still remains.

It's a time-of-life, CoL equation. That said, people leave, move away, and some also return. CA is a Global Brand in Media, Movies, etc., so there is always new blood to arrive as those who have cashed out, or spun out, drift away.

In the context of 50-100 years compared to other global cities, I don't take the "exodus" talk too seriously here b/c as soon *you* or *I* don't see value in it, someone younger, or more enterprising arrives and does see value in it. I grew up in the midwest (Metro Detroit), which is a good reference for collapse - not seeing it here. Any political imbalances would likely to be rebalanced pretty quick if it got really bad here - too much rooted $$$$$.

Overall, I think there is a cooling going on, but we still have a backlog of major projects in the LA area, and major venues like the LucasFilm Museum, Olympics in 2028, etc. and continued growth in transit options. If anything, it's tougher if you have less $ here, but the moneyed class is surfing well above most of the noise.

Curious to hear how that sorted out? I understand if you reach out to your FHA loan people and explain the situation, they can make exceptions/allowances. Although FHA contract states 60 day, maybe ask for a delayed date, or 90 days/etc.

In a similar situation, I'm trying to sort out impact of eviction moratorium on existing tenants during an owner move-in when we aren't supposed to evict. I reached out to my attorneys for some insight to what they are seeing.

@Arianne L.:

I know that having an RE license offers a number of benefits if active in RE more than P/T. Did you have your RE license while you had your F/T job, or get that afterwards?

Congrats @Arianne L. Sounds like you all moved quickly. I know that having an RE license offers a number of benefits if active in RE more than P/T. Did you have your RE license while you had your F/T job, or get that afterwards?

Congrats, that is an awesome journey!! Great lessons in perseverance.