The long dry spell in Los Angeles’s commercial construction market may be comming to a close. The Los Angeles Times recently reported that commercial real estate developers are building again, buoyed by strong demand for apartments. With unemployment still high and Americans still skittish about putting their money in a house that may still decline in value, rents have increased as that option has become more palatable.
According to the LA Times
, the increase in construction in Southern CA is attributable to the “revival of projects that stopped during the recession, but many others are new from the ground up…”
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