gripped wide swaths of the populace doesn't seem to have returned yet. Where otherwise sane people stop doing anything productive to be real estate speculators. Still the last time Republicans had all 3 branches was . . . 1928, so there is still hope.

He lives in Studio City and he and his room mate have a 2 bed, 2 bath, splitting $2,500 a month. By his age (26) I had a nice single in Tarzana for $150 month. I had enough of roommates by that time. I think the dream of having your own apartment nowadays is getting more and more remote. Didn't know about all the foreign investors, though. Even more depressing.

Now these foreign investors..Seem to be mostly independent.. To be honest, they might be the richest of the rich from Iran, and other mideast countries making a run..to just get away from the chaos... taking their money with them..

By the way.. In 1973.. I had a studio apt in the West Village...on Bleeker st.. One of the nicest streets in the city, between Charles and I forget..It was small..Tiny...but only $290 bucks Freaking amazing.

Point is your Nephew and his age group? Have no chance of the kind of opportunities we had..
I had a college degree back then was driving a cab on long island.. decided to move into the city..
Walked around for a bit.. Walked into Saks Fifth ave..Got a temp job for xmas and 4 yrs later was moved to La Jolla for an Operational Manager Job at their store.. Wow.. That just couldn’t happen any more unless you are wanted in the Silicon Valley...Tremendous jobs, but tremendous competition.
Same with Studio illustrators and graphic arts people.. Sad!

Luckily I'm under rent control, or what's left of it.

But I've noticed more for rent signs here too, on the undesirable buildings anyway.

Keep us informed! I think we're in for a crash too.

didn't own my home no way could I buy it.

I sometimes watch a show called Househunters International where they show people looking for homes - both rental and purchase - in various countries around the world. Well, I live in one of most expensive markets in the US, and can say homes around the world are not as cheap as I thought they'd be. Over and over agents say their prices have been soaring, with the exception of the Italian countryside which is super cheap.

So much of the foreign investment is because we do have amazing real estate bargains here, and pre 11/2016 were a stable country.

The wealthy Chinese are hiding their money in North Americans real estate so their families have money to draw upon when they're hauled in front of the firing squad for corruption.

which were both priced out of reach for the locals whose families had lived in them for 400 years three decades ago. The relative remoteness makes them less attractive to rich Chinese who can't buy real estate in their own country, so we've been spared the bubble as well as the million dollar crack shacks other cities have been seeing.

The foreign investors will keep the property. They generally buy for cash and will lose paper wealth, only, with no mortgages to foreclose. We're one major Chinese recession away from a large pop in the west coast housing bubble, including California, the PNW and Vancouver.

Just keep buying and buying.. Perhaps buying themselves out of the market..Especially the middle class market..There’s only so much real estate the uber rich can buy...Problem is the middle class can’t afford the middle class market anymore... Especially apt market..

2 BR, 2 BA that cost me $650/mo in a new, gated 2 story elevator building. I had a corner 2nd floor unit and I was 28. Had a master's degree and was
working in my field.

We had bought our first house in Studio City in 1976-- only a few blocks from the apartment building--for $63,000 because we couldn't even afford
$75,000 for a fixer-upper in Santa Monica, which was where we were renting at the time. In 1978 we sold that house in Studio City for almost
double what we paid for it. Within a decade the house was mansionized (we had a fairly large lot) and the current valuation for that address on Zillow
is $1.4 million for a 2340+ sq ft house with 4 BR and 3BA.