We need to fix price gouging, put the homeless in shelters & get them jobs, and convert tall buildings into cheap apartments, but to do that we need to get money out of politics
The homeless should be paid to clean the city. Give them aid while they better the city. At this point, I think they’d do a better job than Public Works.
nope, corporations let people work from home and found it more profitable to not have offices. This lead to more leases ending and the value of office space dropped and then the value of property for office space. It's the housing bubble all over again with commercial real-estate. You would have to read and know more to actually understand what is happening
@hiddenintheshadows530 Yes, remote work is part of it. But leases aren't being completely canceled, more like adjusted because less office space is needed now. However, there are companies beginning to require their employees to return to the office, especially in circumstances where leases might be locked in long-term or the business has ownership of the property. Though, this could also make room for more businesses that could be smaller. I see as an opportunity to get a better lease.
Many businesses in my field of consulting have gotten rid of their offices. All work is done remotely. Efficiency has increased. Business is good. We will NEVER go back to the office.
@@thatguynico A local news station wanted some B-roll of the medical center that my department was associated with. So I shot several clips with my iPhone on a camera stabilizer and sent it them. Didn’t even cost them a cent.
LA needs a boost of hard working people that could overwhelm the folks that have been seduced by severe malaise. Just think, even the grandmothers could help raise the children that Palestinians are not afraid of having.
My spouse used to work in the legal field in downtown. Never, ever again. It is the lawlessness and homelessness that was the sole factor. No money is worth the risk of robbery and injury.
@@mrxman581 A few moved to Glendale. Anywhere where there is no Metro Rail. If there is a Metro Rail within a mile of your work place or home, start looking elsewhere.
@lolacookie453 Yes, it is. But let's be clear, there are areas in DTLA that are also great. The whole Bunker Hill area is great. The LA Live area is always full of people. The Little Tokyo Plaza is going through a rebirth. The Century City shopping center has also gotten a high-end makeover in the last several years. A D line subway station is currently under construction beneath the shopping center. It's scheduled to open in 2026.
We just need reasonably priced housing! I’m not even saying “affordable” or “low income” housing, I’m saying reasonably priced housing that middle working class can afford. $3,000 for a 300sq ft studio is INSANE!
The pandemic did cause the depreciation. The mayor and city council purposely caused this through negligence, poor ideologies, bad policy, and ignoring the rule of law.
It's very difficult to convert them because the structure of an office building and residential building are very different. It can also take many years to convert.
It’s not that easy to convert to residential apartments. Residential units require extra plumbing for water and pipes for sewage to added kitchens and bathrooms.
Bringing cheap apartments to cities brings even more crime & poverty to the area. We need to get rid of people who are hogging up our cheap housing all over the state that aren’t supposed to be in this country. Lower taxes & stop running businesses out of the state. People want to be where it is safe & there are financial opportunities. Stuffing more housing in every open space, including people’s back yards, while flooding in millions of uneducated, unskilled poor people will make things continue to decline.
Blame the government. The pandemic happened 4 years ago. The building has been losing value before that. Government NOT addressing social issues, open drug use, increasing homelessness, taxes on businesses just trying to survive, and to top it off.....outrageous cost to live in LA and CA in general is enough to drive economies downward. But good luck with the turn around, I left and didn't look back. Couldn't be a better life now.
Not to discount the news too much, but this valuation is just someone's opinion, and I don't know why they decided this is a job that had to be done. This valuation is basically meaningless, unless the BofA tower is up for sale, which it isn't, or it got re=assessed for property tax purposes. Nice that they made mention of the Oceanwide Plaza. That place is going to be a thorn in the side of DTLA boosters for a long time to come.
Oceanwide Plaza will get finished because it's in a fantastic location, and real estate is primarily about location. It would have been sold by now if it wasn't for Covid. That southern area of DTLA has had the most construction in the last 12 years. Now it's about buying it at the right price.
@@mrxman581 Maybe, maybe not. Fact is, the area right across the street to the south was still a parking lot when construction on Oceanwide started. It has since been completed and is in operation as a multi-purpose retail/residential property, with no hint of the problems that bedevil its neighbor to the north. Just shows that a real estate project can be completed, even with Covid.
@@condor7810 Yes, some company got retained to market Oceanwide, and they make all the right optimistic noises about finding a buyer. But there is not even the rumor of a pending sale in the air, for one simple reason - the building in its current form is unsellable. It would take another billion to complete, and it would take as much money as it is currently valued at to knock it down. It means a company would be spending 400 million to end up with a 4.5 acre parking lot, which is what Oceanwide was before 2016.
@@condor7810 While an agency has been tasked to find a buyer, and they are making the right optimistic noises, there is not even the rumor of a sale in the air. As it is, Oceanwide is practically unsellable. It would take another one billion to finish, and it would take the current valuation of fourhundred million to knock it down. If leveled, all they would end up with is a 4.5 acre parking lot, exactly the same thing that was there eight years ago.
Too many skyscrapers make downtown areas and cities look bloated to start with. The mom and pop Main Street that was all over in the 50’s desperately needs a return!
100% agree they built la live and still all around its trash. Plus LA is expanded with all the crime homelessness double parking I wondering if the politicians going to improve the look before the Olympics? I doubt it....
They put the homeless crisis at the very END of the report!! That is your NUMBER ONE problem!!! Being in a downtown is great and the energy of a thriving downtown adds to economic growth!! But when you have out of control crime issues - open drug use - homeless explosion despite spending millions of tax dollars to ZERO effect - horrible and unsafe public transit; you are just wanting yoour effert as far as downtown goes!! Elevate your standards and we will have a thriving city once again!!
The people interviewed are correct. There are more people shopping, eating, going to events, etc. today than 2 years ago. And before Covid it was even better. Covid lasted 3+ years, so it will take a little longer to get back to pre Covid activity. That's the case in many of the bigger cities.
Commercial real estate should pivot to residential, the writing has been on the wall with this for over 3 years. Bringing more people to live back in downtown is what will revitalize it. There's still some parts of DTLA I like but it just needs more commerce and infrastructure investment. No reason it shouldn't be a better hub for the city.
Many people stopped working in the office. Downtown used to be bustling during workdays. Many small businesses have shuttered and the office spaces are in less demand
The amount of people blaming unhoused folks and folks struggling with addiction is exactly what the corporate overlords that have destroyed our country want you to do...we should be having class warfare, not blaming the people in our country who need the most help.
Refusing to recall Gascon, then electing Bass. By the way, Bass and the board declared LA a sanctuary city so things will get a lot worse. Dont blame the pandemic, dont blame the politicians, blame yourselves.
How about blaming it on what the real issue was, outdated work standards. Covid just made it obvious we don't need to commute an hour to an office to do our job.
Thank you for covering this, LAPD should pay attention at the amount of people living inside these abandoned structures. If it has graffiti , someone lives inside of it. I have seen 100’s of structures throughout the county, not just down town … These territorial migrants and their elementary tactics. Please remove them from our cities ! Stop the crime brought about sanctuary city polices.
The same as what Alejandro? Most things change Scooter, sometimes for the better, sometimes not. What likely won't change is your negative, narrow minded, Debbie Downer, ignorant, unhelpful assessment of things which you know nothing about.
Traffic-Related Crimes are higher than ever, yet everything else is down Traffic-related crimes in Los Angeles include DWIs, driving under the influence of drugs, reckless driving, and felony hit-and-run collisions. All occur on the roads in Los Angeles. Last year, the following increases or decreases were observed in these areas: Hit-and-run crashes that resulted in fatalities increased by 23% Driving under the influence crashes resulting in death increased by 32% Pedestrian deaths caused by vehicle collisions increased by 13% Rounding out LAPD’s 2023 findings are a reduction in homeless-related homicides of 36%, a 10% decrease in Part 1 crimes, and a 26% decrease in gang-related homicides.
@@hiddenintheshadows530crime is down. The media & politicians have been gaslighting the public for years now. The voters know it & that’s why we overwhelmingly voted for change. Crime reporting might be down, arresting criminals def down, prosecuting crime is down. But crime is definitely not down.
I worked in many of these buildings, from security to the actual law firm. Most Attorneys don't show up because they rather save gas money and dry cleaning clothes everyday. So they work from home. Bankers as well!! Plus the food around the area is really over priced and not the best.
Yet LA, SF, NY, DC, etc continue to attract the most talent, the brightest, the most energetic. Where are you 'queen', somewhere in Iowa or Alabama or some other dying backwater? You have likely never been to Los Angeles nor to any other 'sanctuary city'. The nightmare is your limited brain capacity, bigotry, lack of curiosity and belief that everything you don't understand (which is most everything on this planet) is "disgusting".
A few years ago, some crazy people told me that LA would fall apart. And they would just put homeless and low income people in the vacant buildings while forcing taxpayers to pay for it.
It’s so frustrating when you speak to people from different walks of life clearly explain the issues La is having only for the same people to be told “actually studies show the city is doing better than ever!”
Yep, gaslighting never ends. But people are stopping to get hip to their bs. It’s very unfortunate we got a lot of the same & some worse local leaders coming back n this elections. they r really out of touch with the people
Sounds like if you are young, this is the time to invest in commercial real estate. Be greedy when others are fearful. This market will recover in the long term. Buy REITS.
Commercial real estate is going to bring down allot of banks until THEY LOWER THE RENTS and except the new values. Lower the commercial rents so stores can come back. Built more residential units.
If you put alot of senior housing up that would help. More luxury and pricey housing won't help as you can see. Also, tourism is what has provided the uptick of foot traffic
Skyscrapers are structures of a bygone era in this digital age. Humankind has advanced so much that everything we built, we now have to unbuild as we exist in a virtual world. In the future, earth will just return to empty space and we will all have virtual headsets, which will contain our more efficient, problem free world. After all, no one can commit crimes or break rules and no global warming or pollution can happen if we are all plugged in to a virtual, perfect world.
The entire State of California has been poorly managed and governed for too long. They need to enforce harsher punishments, stop illegal immigration and drug trade, even close off borders from where all the drugs and crime are coming from and get it back on track. It used to be such a great State.
Nothing goes up in value forever maybe this part of the commercial real estate bubble popping. A terrible thing but it would be very good in the long term if all real estate prices crash instead of 1M houses you would have 250k houses. 250k for a house puts it in the range many more people.
Isn't L.A the same city with that huge homeless population, Saints Row? Come on, use your brains! Since the internet, commercial space has been rapidly becoming more vacant, but then the pandemic sealed it. It's not all bad, it just requires some reshuffling. 1. Make the office buildings, residential. 2. Watch the people move in. 3. Then L.A can move the homeless off the streets and into houses.
Lol, how many would u rent to? They need to be able to be productive members of society & they aren’t. It’s all one big grift. Keep Americans drugged out on the streets & flood in millions more uneducated poor people who will work for bare minimum & are easier to control.
As our homeless live on the streets, rent is all time high and vacant building everywhere. We are hing scammed and lied too.
We need to fix price gouging, put the homeless in shelters & get them jobs, and convert tall buildings into cheap apartments, but to do that we need to get money out of politics
The homeless should be paid to clean the city. Give them aid while they better the city. At this point, I think they’d do a better job than Public Works.
@@cbonilla10027I wish somebody paid me to clean up my mess.😂
Downtown LA is improving, it’s a long road to recovery but honestly I’m happy office values are plummeting. They were very inflated anyway.
Bums, open drug use, street people.... there are certain areas of Downtown that are clean and feel safe but that is not most of the area.
Yes, that is most of it. More people live in DTLA today than have in the last several decades.
nope, corporations let people work from home and found it more profitable to not have offices. This lead to more leases ending and the value of office space dropped and then the value of property for office space. It's the housing bubble all over again with commercial real-estate. You would have to read and know more to actually understand what is happening
@@hiddenintheshadows530 You get off on thinking that you are smarter than others... its just sad.
@hiddenintheshadows530 Yes, remote work is part of it. But leases aren't being completely canceled, more like adjusted because less office space is needed now. However, there are companies beginning to require their employees to return to the office, especially in circumstances where leases might be locked in long-term or the business has ownership of the property. Though, this could also make room for more businesses that could be smaller. I see as an opportunity to get a better lease.
Its commercial real estate vacancy in general... its not about the things outside
Many businesses in my field of consulting have gotten rid of their offices. All work is done remotely. Efficiency has increased. Business is good. We will NEVER go back to the office.
Love how Nella Mcosker is doing the interview from home 😂😂😂
It’s more expense and time for the news station to send a cameraman and correspondent to a remote location.
Haha I noticed that too!
@@RaymondHng you’re not wrong about that, but that wasn’t the point of my comment
news interviews like that are common af in 2024 lol
@@thatguynico A local news station wanted some B-roll of the medical center that my department was associated with. So I shot several clips with my iPhone on a camera stabilizer and sent it them. Didn’t even cost them a cent.
The crime is out of control in LA. No one wants to be there. I moved out and couldn’t be happier.
😂😂😂😂
Crime use to be worse in the 90s stop the band wagon you morons
We're all super pumped that you left too.
Where’d you go? Vegas? 😅😅
If you’re so happy to have moved out why are you on a local LA news page, wouldn’t that cause you more aggravation
It’s ghetto, it’s dangerous, it takes forever to drive in and out of.
Facts!
LA needs a boost of hard working people that could overwhelm the folks that have been seduced by severe malaise. Just think, even the grandmothers could help raise the children that Palestinians are not afraid of having.
My spouse used to work in the legal field in downtown. Never, ever again. It is the lawlessness and homelessness that was the sole factor. No money is worth the risk of robbery and injury.
That was decades ago. Many law firms moved to Century City decades ago. More people live in DTLA today than they have in decades.
The smell of urine on the sidewalk is nasty
@@mrxman581 A few moved to Glendale. Anywhere where there is no Metro Rail. If there is a Metro Rail within a mile of your work place or home, start looking elsewhere.
@@mrxman581Century City is a lovely, clean and safe area
@lolacookie453 Yes, it is. But let's be clear, there are areas in DTLA that are also great. The whole Bunker Hill area is great. The LA Live area is always full of people. The Little Tokyo Plaza is going through a rebirth.
The Century City shopping center has also gotten a high-end makeover in the last several years.
A D line subway station is currently under construction beneath the shopping center. It's scheduled to open in 2026.
We just need reasonably priced housing! I’m not even saying “affordable” or “low income” housing, I’m saying reasonably priced housing that middle working class can afford. $3,000 for a 300sq ft studio is INSANE!
that's actually reasonable for downtown.
@@MonsterPig007 36k a year mate
The poor deserve "reasonable" too. There's a HUGE poor "working class".
@@MonsterPig007 Not reasonable at all if wages aren't going up to par with inflation / cost of living. Increased rent, but wage cuts.
Most of LA earns less than 50k/yr
LA native here. Downtown is a joke in this city
The pandemic did cause the depreciation. The mayor and city council purposely caused this through negligence, poor ideologies, bad policy, and ignoring the rule of law.
Don’t blame the pandemic. Blame the greedy owners who keep jacking up rent prices.
This ^
Just convert the tall buildings into cheap apartments, no more empty building
Or vertical sports arenas for basketball football and concerts😅
It's very difficult to convert them because the structure of an office building and residential building are very different. It can also take many years to convert.
It’ll get trashy in a month 😏
It’s not that easy to convert to residential apartments. Residential units require extra plumbing for water and pipes for sewage to added kitchens and bathrooms.
Bringing cheap apartments to cities brings even more crime & poverty to the area. We need to get rid of people who are hogging up our cheap housing all over the state that aren’t supposed to be in this country. Lower taxes & stop running businesses out of the state. People want to be where it is safe & there are financial opportunities. Stuffing more housing in every open space, including people’s back yards, while flooding in millions of uneducated, unskilled poor people will make things continue to decline.
its a great time to get a crazy deal on a condo in downtown though....
Downtown LA is one of the ugliest downtowns compared to many large metro cities. Blame the lose of value on that.
Such a shame, there's a lot of beautiful historical buildings in the area.
Blame the government. The pandemic happened 4 years ago. The building has been losing value before that. Government NOT addressing social issues, open drug use, increasing homelessness, taxes on businesses just trying to survive, and to top it off.....outrageous cost to live in LA and CA in general is enough to drive economies downward. But good luck with the turn around, I left and didn't look back. Couldn't be a better life now.
Economieshelteracism NYC 😢
Downtown LA is just too dangerous, I would rather work somewhere safe like Playa or Irvine.
Here in Dallas, most downtown towers are being converted to Condos!
Business is fleeing dallas😅
Not to discount the news too much, but this valuation is just someone's opinion, and I don't know why they decided this is a job that had to be done. This valuation is basically meaningless, unless the BofA tower is up for sale, which it isn't, or it got re=assessed for property tax purposes.
Nice that they made mention of the Oceanwide Plaza. That place is going to be a thorn in the side of DTLA boosters for a long time to come.
Oceanwide Plaza will get finished because it's in a fantastic location, and real estate is primarily about location. It would have been sold by now if it wasn't for Covid. That southern area of DTLA has had the most construction in the last 12 years. Now it's about buying it at the right price.
Oceanwide Plaza is currently for sale via a receivership process. The eventual buyer will complete the project & improve the area, etc.
@@mrxman581 Maybe, maybe not. Fact is, the area right across the street to the south was still a parking lot when construction on Oceanwide started.
It has since been completed and is in operation as a multi-purpose retail/residential property, with no hint of the problems that bedevil its neighbor to the north.
Just shows that a real estate project can be completed, even with Covid.
@@condor7810 Yes, some company got retained to market Oceanwide, and they make all the right optimistic noises about finding a buyer.
But there is not even the rumor of a pending sale in the air, for one simple reason - the building in its current form is unsellable.
It would take another billion to complete, and it would take as much money as it is currently valued at to knock it down.
It means a company would be spending 400 million to end up with a 4.5 acre parking lot, which is what Oceanwide was before 2016.
@@condor7810 While an agency has been tasked to find a buyer, and they are making the right optimistic noises, there is not even the rumor of a sale in the air.
As it is, Oceanwide is practically unsellable. It would take another one billion to finish, and it would take the current valuation of fourhundred million to knock it down.
If leveled, all they would end up with is a 4.5 acre parking lot, exactly the same thing that was there eight years ago.
If u want to see whats on store for California if this doesn't change
Look at Canada
No money is worth the risk of getting robbed or injured
California needs a new mayor and new governor
Hello from Calgary Alberta Canada where we have traffic problems too. 1.4 million people live here
Too many skyscrapers make downtown areas and cities look bloated to start with. The mom and pop Main Street that was all over in the 50’s desperately needs a return!
Guys I’m an LA Native - born in 81’. DT LA sucks no offense if u live there. It’s filthy and still hasn’t been cleaned up much in the past 40 years.
100% agree they built la live and still all around its trash. Plus LA is expanded with all the crime homelessness double parking I wondering if the politicians going to improve the look before the Olympics? I doubt it....
They put the homeless crisis at the very END of the report!! That is your NUMBER ONE problem!!! Being in a downtown is great and the energy of a thriving downtown adds to economic growth!! But when you have out of control crime issues - open drug use - homeless explosion despite spending millions of tax dollars to ZERO effect - horrible and unsafe public transit; you are just wanting yoour effert as far as downtown goes!! Elevate your standards and we will have a thriving city once again!!
well said!!!
The people interviewed are correct. There are more people shopping, eating, going to events, etc. today than 2 years ago. And before Covid it was even better. Covid lasted 3+ years, so it will take a little longer to get back to pre Covid activity. That's the case in many of the bigger cities.
Covid lasted 3 years 😮 thank god my city stopped the lockdown by 2021 lol I feel bad for you blue states that had to go multiple years.
Bank of America tower downtown LA used to be call Security Pacific Bank it has been there for 50 years completed in 1974
Commercial real estate should pivot to residential, the writing has been on the wall with this for over 3 years. Bringing more people to live back in downtown is what will revitalize it. There's still some parts of DTLA I like but it just needs more commerce and infrastructure investment. No reason it shouldn't be a better hub for the city.
I love how at the end of the story they mention the REAL problem all the CRIME!
funny because crime has been down, and only went back up in 2021/2022 and those stats aren't higher than it was 10yrs ago
Oh, my! This is happening only in Los Angeles, not every major city in the US. Weird that.
Lies
Many people stopped working in the office. Downtown used to be bustling during workdays. Many small businesses have shuttered and the office spaces are in less demand
God forbid you actually lower rents, clean up the streets…… and get rid of crime
As a society our ego told us we needed those sky scrapers. What happened to the city of towers in italy? They have almost none left to this day...
funny, the person they interviewed is at home!
Finally. It made no sense for them to be so expensive.
Work from home policies for you. In Florida, downtown buildings are basically at full capacity.
Time to re-value all of them and shed light on the banks
The amount of people blaming unhoused folks and folks struggling with addiction is exactly what the corporate overlords that have destroyed our country want you to do...we should be having class warfare, not blaming the people in our country who need the most help.
We just visited downtown L.A and it was great!! We come from Atlanta do DTLA was cool and we felt safe
Mayor needs to step up or get out
Refusing to recall Gascon, then electing Bass. By the way, Bass and the board declared LA a sanctuary city so things will get a lot worse. Dont blame the pandemic, dont blame the politicians, blame yourselves.
How about blaming it on what the real issue was, outdated work standards. Covid just made it obvious we don't need to commute an hour to an office to do our job.
Everyone should thank Dr Fauci.
Thank you for covering this, LAPD should pay attention at the amount of people living inside these abandoned structures. If it has graffiti , someone lives inside of it. I have seen 100’s of structures throughout the county, not just down town … These territorial migrants and their elementary tactics. Please remove them from our cities ! Stop the crime brought about sanctuary city polices.
Where did the tenants go? Out of business, out of the state?
@User5_ Many didn't leave, but downsized their leases in the last few years due to working from home.
It is almost impossible to economically convert Office Buildings into residential buildings
FIX THE CRIME AND HOMELESSNESS, MAYOR & GOVERNOR
Get rid of the skid row...
change the name to LA Zoo.
The idea of Downtowns is obsolete.
Dystopian Downtown LA I wouldn’t even drive my car thru that area.
It's people working at home. Why rent office space if you don't need to?
Anyone whose from LA would never choose to buy a place in DTLA. Way to overpriced for how crappy the area is.
Pandemic hurt everyone. I never thought i'd have to leave LA, but it just got too crazy and expensive smh
Watching from Lake Charles Louisiana ⚜️❤️💛
who cares? lake charles is a swamp.
And no one watches Louisiana
Doesn't make any sense anymore to commute in all that bs, just to work in a tower in dtla. Make it all residential, and let people work anywhere.
We need more affordable housing less office space.
Hate to break it to you, but it will never be the same with all the crime and lawlessness.High taxes good luck.
The same as what Alejandro? Most things change Scooter, sometimes for the better, sometimes not. What likely won't change is your negative, narrow minded, Debbie Downer, ignorant, unhelpful assessment of things which you know nothing about.
Crime is down, wtphk are you talking about
Traffic-Related Crimes are higher than ever, yet everything else is down
Traffic-related crimes in Los Angeles include DWIs, driving under the influence of drugs, reckless driving, and felony hit-and-run collisions. All occur on the roads in Los Angeles. Last year, the following increases or decreases were observed in these areas:
Hit-and-run crashes that resulted in fatalities increased by 23%
Driving under the influence crashes resulting in death increased by 32%
Pedestrian deaths caused by vehicle collisions increased by 13%
Rounding out LAPD’s 2023 findings are a reduction in homeless-related homicides of 36%, a 10% decrease in Part 1 crimes, and a 26% decrease in gang-related homicides.
@@hiddenintheshadows530crime is down. The media & politicians have been gaslighting the public for years now. The voters know it & that’s why we overwhelmingly voted for change. Crime reporting might be down, arresting criminals def down, prosecuting crime is down. But crime is definitely not down.
Shelteracism NYC 😢
There is zero appetite to go or do anything in downtown LA. There is little to nothing to do and it's not safe.
I thought the mayor was to fix all of these problems. Must be at brunch again.
Brunch since she was elected.
I worked in many of these buildings, from security to the actual law firm. Most Attorneys don't show up because they rather save gas money and dry cleaning clothes everyday. So they work from home. Bankers as well!! Plus the food around the area is really over priced and not the best.
Ummm I wonder… sanctuary city nightmare.. it’s disgusting
The gibberish you post on the internet.
Vapid comment
Yeah girl 99% of these bums are americans are you new here?
Yet LA, SF, NY, DC, etc continue to attract the most talent, the brightest, the most energetic. Where are you 'queen', somewhere in Iowa or Alabama or some other dying backwater? You have likely never been to Los Angeles nor to any other 'sanctuary city'. The nightmare is your limited brain capacity, bigotry, lack of curiosity and belief that everything you don't understand (which is most everything on this planet) is "disgusting".
@@ChosenOne6666it’s true.
A few years ago, some crazy people told me that LA would fall apart. And they would just put homeless and low income people in the vacant buildings while forcing taxpayers to pay for it.
Crime, drugs, homeless, trash…. Nobody wants to go there anymore. Business doesn’t want to be there.
You get what you vote for! Stop voting blue! SMH 🤦♂️
In four years, this country will be in the worst mess you've EVER seen.
It’s so frustrating when you speak to people from different walks of life clearly explain the issues La is having only for the same people to be told “actually studies show the city is doing better than ever!”
Yep, gaslighting never ends. But people are stopping to get hip to their bs. It’s very unfortunate we got a lot of the same & some worse local leaders coming back n this elections. they r really out of touch with the people
No you can blame corporations for owning residential property. CORPORATE LANDLORDS buting RESIDENTIAL PROPERTIES SHOULD BE ILLEGAL!
Sounds like a buying opportunity.
Perhaps some of those empty office buildings can be converted into city or county jails.
Maybe Trump can use them for detention camps
Sounds like if you are young, this is the time to invest in commercial real estate. Be greedy when others are fearful. This market will recover in the long term. Buy REITS.
They were horribly overvalued anyways, maybe the crash in price will result in lower commercial rent and some housing conversions
Commercial real estate is going to bring down allot of banks until THEY LOWER THE RENTS and except the new values.
Lower the commercial rents so stores can come back. Built more residential units.
Dumb covid policies, not the “pandemic.” Soros nutting his pants tho
Homeless can live in the empty buildings
Gerald celente was talking about this year's ago on his TH-cam channel. This will create a severe market crash.
They cost more to maintain an upkeep than they're even worth.
No way a pharmacy worker can afford living dtla
Oh no, how will the local mom & pop skyscraper owner make it?
yeah us spending trillions on war and illegal immigrants and not fixing any actual problems in our own country will do that.
If you put alot of senior housing up that would help. More luxury and pricey housing won't help as you can see. Also, tourism is what has provided the uptick of foot traffic
Neither will stuffing poor people n there.
Skyscrapers are structures of a bygone era in this digital age. Humankind has advanced so much that everything we built, we now have to unbuild as we exist in a virtual world. In the future, earth will just return to empty space and we will all have virtual headsets, which will contain our more efficient, problem free world. After all, no one can commit crimes or break rules and no global warming or pollution can happen if we are all plugged in to a virtual, perfect world.
The entire State of California has been poorly managed and governed for too long. They need to enforce harsher punishments, stop illegal immigration and drug trade, even close off borders from where all the drugs and crime are coming from and get it back on track. It used to be such a great State.
crimes and bums everywhere
I love the graffiti, it's a constantly reminds me where I am
I’m optimistic…. DTLA we see a future renaissance! Sometimes, YOU HAVE TO GO DOWN TO HELL… TO RISE BACK UP!
DTLA AND Downtown San Francisco have something in common
Downtown SD is in decent shape since it's residential/hotel centric.
Texas too😅😅
Only in LA...."good news...there is more traffic"...Hurrray!!!
What a surprise? Not really the comments say it all
Blame newsom!!!!
The ONLY reason I go near Downtown is to go to the Broad every two years. 🤷🏼♂️🤷🏼♂️🤷🏼♂️
What goes up must come down
Nothing goes up in value forever maybe this part of the commercial real estate bubble popping. A terrible thing but it would be very good in the long term if all real estate prices crash instead of 1M houses you would have 250k houses. 250k for a house puts it in the range many more people.
Turn it into housing?
Convert them to affordable apartments
Put all the bums in the tower and call it Bum Tower.
Buddy ran tf out that light @2:55 😂
Good, convert to housing, Let people work remotely. Live and work in one place until everyone has a place to live!
Keep voting liberals and Dei mayors
Clean up the streets then dtla will prosper
Isn't L.A the same city with that huge homeless population, Saints Row? Come on, use your brains!
Since the internet, commercial space has been rapidly becoming more vacant, but then the pandemic sealed it. It's not all bad, it just requires some reshuffling.
1. Make the office buildings, residential.
2. Watch the people move in.
3. Then L.A can move the homeless off the streets and into houses.
Lol, how many would u rent to? They need to be able to be productive members of society & they aren’t. It’s all one big grift. Keep Americans drugged out on the streets & flood in millions more uneducated poor people who will work for bare minimum & are easier to control.