Before reading this article from The Los Angeles Times, I was under the impression that every community, no matter how opulent, was experiencing a decrease in property values. I was shocked to learn that of all places San Marino, a residential district in the San Gabriel Valley, is the only exception to my assumption. In the midst of this housing crisis, home prices in this community have been steadily increasing. The reasons for such a stable increase in prices, even during a financial crisis, make a lot of sense. This community’s school system, small town feel, cleanliness, and exclusivity make this district extremely marketable.
The figures illustrating San Marino’s Prosperity in comparison to other extremely wealthy districts really surprised me. The median home price in San Marino is around 1.5 million dollars; up 1.6% from the previous year (Los Angeles Times January 31, 2011). In comparison, Beverly Hills has seen its median home price fall an astounding 18.6% since 2008. To say the least, this contrast in prices is pretty incredible.
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