Will the Expo Line Change Los Angeles Real Estate?

By Ramsey Judah

expoline

If there is one complaint that transplants have of Los Angeles is that there is no public transportation. We have so many cars in this city that some of our freeways turn into parking lots a few times a day.

But things are starting to change. The expo line has officially connected Santa Monica to Downtown Los Angeles and is making a difference in people’s commutes.

Real estate along the expo is beginning to become even more desirable because of the metro system. Buyers are actually looking for a home that is close to the train line.

transit

Statistics show that younger generations who can buy seem to want to do so near public transportation. As the baby boomer generation goes into retirement, commuting will not be such a huge issue for them.

Housing from West Adams to Jefferson park is still relatively affordable. But demand is rising. Lots of investors are targeting areas around the metro and their flips are moving fast.

The ultimate question is whether Los Angeles can shake off its car culture and embrace public transportation as the main mode of transportation. The numbers are showing that it is not doing enough but only time will tell.

 

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