Growing up in Toronto, we took the subway downtown almost every Saturday. Imagine the freedom of being a teenager and being able to get to places without a car or without having a drivers license. Imagine being a parent and not having to drive your teen around town. Sounds pretty good, eh?
Fast Forward 30 years and here I am in LA. A place that has inspired a song called "Walking in LA". A song that is about how nobody walks in LA. Why does everyone drive? Well, it could have something to do with our lack of easy public transit. Until now! Have you heard of the new light rail that will cross the city from downtown and make it all the way to the beach? It is a reality folks...the day will come (very soon) where you can board a train in Downtown LA (and points in between) and make it to the beach without setting foot in your car. Currently, you can get from Downtown to Culver City.
I have a prediction about how this light rail system will affect real estate in the surrounding areas. For those that know me, I rarely (if ever) make Real Estate Market predictions. How can I possibly know if the market will go up or down next year? Well, without a crystal ball, the truth is that no one can make those predictions with any level of accuracy. I can however give you very accurate info on today's market place and what I think will happen to a certain area of town over the next 5-7 years. Why am I willing to do something I rarely do? Because I believe in the light rail. I believe in public transit. I believe that a system like the one being built will greatly affect Real Estate development in the coming years.
On my last visit to Toronto, I noticed a few things when talking to my old friends. People are worried about the environment and their expenses. They are making changes within their families to minimize their affect on the aforementioned. People have one car families now. Not everyone, but some. Families are getting by with one car because they live in a city where you can get almost ANYWHERE using the subway and bus system. Mark my words, I believe that in 10 years time, the people of LA will realize and appreciate the value of a public transit system that works. Property values will reflect that realization and LA real estate developments will be like nothing you have seen. If you don't believe me, look up the city of Toronto and see what has been going on over there in the past 15 years.
So, now to the title of my blog....if you want to discuss investment opportunities and how they tie in to the Metro Light Rail, give me a call and let's start investing in your future and in the future of Los Angeles!
Revi Mendelsohn, Realtor
Rodeo Realty Beverly Hills
310-963-7384 (cell/txt)
ReviMendelsohn@gmail.com
www.ReviMendelsohn.com
