Let us talk possibilities
If Amazon chooses to locate its second headquarters in Southern California, what can this mean to the already high-priced housing market? The housing availability supply is already low, I mean REALLY low, just last month was the lowest it has been in 13 years!! Now add 50,000 new high-tech workers, for sure prices are going to rise.
There will be new construction but that may not be enough…we are 1 million housing units below what’s needed. CAR President Steve White said, “We expect that over the next eight years that could grow to 2 million”
The median price for an existing single-family home in the LA. Metro area was $495,720 in December, up 6.7% from last year. The Inland Empire saw an even bigger 7.5% year over year increase, pushing its median price up to $345,570.
So, we will have to wait and see what Amazon decides but until then, that’s all I have for you.
-Damaris S.