Follow LA Observed on Twitter here
How do you unload downtown condos that have gone begging because of a sluggish real estate market? You rent them, of course. Real estate folks are telling the Downtown News that this might not be such a bad thing because rental units are in demand (young hipsters might not be ready to buy) and because it services the construction debt. Rents are running from $2,000 on up - well above the countwide average of $1,470, but somewhat below many parts of the Westside. The L.A. Live project and a new supermarket continue to raise expectations about the "cachet of downtown."
More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAXSocal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Siri versus Hawaiian pidgin (video)Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
New at LA Observed
On the Politics Page
Go to Politics
Sign up for daily email from LA Observed
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.