COMMERCIAL REAL ESTATE : Good Neighbor L.A. Takes Title O.C. Is Happy Not to Have
Orange County can thank Los Angeles for not getting this superlative: worst real estate market, period.
The February issue of National Real Estate Investor magazine, citing an Ernst & Young survey of 1,700 real estate investors and professionals, identified L.A. as the market “they believed offered the least favorable prospects for real estate investment through 1995.”
Orange County was fifth from the bottom, ahead of more sluggish markets in New York-Long Island, Boston and Detroit.
L.A. was the lowest of the low in all categories, including markets for office, industrial and retail space, as well as apartments and single-family homes.
Survey respondents also were asked to identify the local markets that they think will generate the highest returns for the next three years. Atlanta, home of the 1996 Olympics, topped almost all of the sectors.
