An article in the Los Angeles Times today again touched on what appears to be the direction real estate in Southern California is heading. As development continues in the area due to the sheer amount brainpower of the area affords, the desire for living in the region continues to grow, and as it stands out pieces the ability for home construction. One reason for this is simply the lack of land available. Of course we can develop our and the desert as we have communities such as Santa Clarita, for many people, the idea of making a premium from the outskirts of the Santa Clarita Valley to downtown Los Angeles is a little too much to ask.
It is looking more and more pet to us that urban living is certainly part of the future for many of the cities that make up the Southern California environment. We are seeing more and more construction of apartment buildings as opposed houses due to the availability of land. We expect these trends to continue as the economy slowly gathers its footing and we see a global unwinding of debt that many countries took on over the last decade.
As we grow more and more tense, only to see pedestrian living in the pedestrian possibilities grow. Infrastructure such as transit lines and subways will need to be planned in order to incorporate the sort of growth that seems to be upon us. Of course this growth will not take place in all of the year. This growth will likely take place over the next 20 years or so, but it is apparent that the urban factor is definitely going to play a large role in development of the Southern California region.
One major question we all have as it tried to forecast the direction of the real estate market here in Southern California is what job climate will be. It’s difficult to know what technologies you want to do jobs. With our ability to interface with computers and mobile devices, it is possible that the child climate for most will include telecommunication and ability to work from just about anywhere. If that is the case, one has to wonder whether the demand for Southern California living will continue to draw millions as it has over the last so many decades. These are the sorts of questions that developers ponder as they make guesses when investing in large-scale projects. There is no definite to this question, and the truth is only time will tell.
That said, the climate and culture of the region will likely be a draw for decades and decades to come, and for that reason we expect that more than likely. Will continue to develop, that an urban approach to development will change the overall layout of the area, transit and infrastructure will severely improve and make life for us Southern Californians that much more pleasant.