Why Inglewood

[jacktravern]

Originally Posted by BoiWonder13

Great Post. Not to mention its near super desirable areas like Westchester, Marina Del Rey and has great bones to it towards the north party of the city.

Westchester is "Super Desirable"?

[Pro1000]

Originally Posted by DabOnEm

I've noticed this too. Blacks who own in Inglewood aren't selling, and they're telling their children/heirs not to sell either. Similar thing started happening in the Bayview-Hunters Point area of San Fran a few years ago. Many families built their generational wealth off of home ownership values increasing so much in California. It's good to see Blacks doing the same now after being redlined to some of the worst areas, which have now seen a positive reversal in value.

This is good but at the same time when you sell your house you have to figure out where you're going to live next. What can you afford? Are you willing to start over in a new neighborhood or city or both. Are you down and able to leave the area where your family members are located at? If its a different city how's the job market and how are you going to make your money if your still at a working age and not retired? It goes on and on.. Life-wise alot of people are better off staying put even if their homes/property increases significantly in value.

[jacktravern]

Originally Posted by Pro1000

This is good but at the same time when you sell your house you have to figure out where you're going to live next. What can you afford? Are you willing to start over in a new neighborhood or city or both. Are you down and able to leave the area where your family members are located at? If its a different city how's the job market and how are you going to make your money if your still at a working age and not retired? It goes on and on.. Life-wise alot of people are better off staying put even if their homes/property increases significantly in value.

I try to put this out to people who preach to me about how much equity they or what they can get for their property right now but it always gets dismissed or get told i'm hating. The values on alot of these homes may have gone up, but so has prices everywhere else in the county. So somebody who bought low in Inglewood, lived through the awful crime laden years, and can now sell high is not suddenly going be able to buy a home in say Calabassas or Santa Monica, as I'm sure those prices have gone up as well.

It seems to only work out well if you rent, move to a cheaper state, or a neighborhood thats worse off.

[Chaminade]

Originally Posted by robertpasa

Why do so many sports arenas wind up in Inglewood? I heard the radio guy Tim Conway Jr. asking this but I didn't hear the rest of the show. I'm talking about the new stadium for the Rams and Chargers.

Wild guesses: they have a lot of empty space. They are near the airport.

Other cities have tendencies. El Segundo is aerospace (which I would expect has a lot to do with LAAFB and LAX)
Irvine has a lot of Medical Devices companies.
Maybe some deals between politicians and business owners.

[DabOnEm]

Originally Posted by Pro1000

This is good but at the same time when you sell your house you have to figure out where you're going to live next. What can you afford? Are you willing to start over in a new neighborhood or city or both. Are you down and able to leave the area where your family members are located at? If its a different city how's the job market and how are you going to make your money if your still at a working age and not retired? It goes on and on.. Life-wise alot of people are better off staying put even if their homes/property increases significantly in value.

Originally Posted by jacktravern

I try to put this out to people who preach to me about how much equity they or what they can get for their property right now but it always gets dismissed or get told i'm hating. The values on alot of these homes may have gone up, but so has prices everywhere else in the county. So somebody who bought low in Inglewood, lived through the awful crime laden years, and can now sell high is not suddenly going be able to buy a home in say Calabassas or Santa Monica, as I'm sure those prices have gone up as well.

It seems to only work out well if you rent, move to a cheaper state, or a neighborhood thats worse off.

I hear what both of you are saying, but that's not always the end game. What if they move-out/downsize but instead of selling the home is rented out? Now that it's in a desirable neighborhood you can charge a few hundred to $1k+ more than you could say 10-15 years ago. That's steady positive income. Or if you're tired of California, you can sell here and buy multiple properties in another market and profit. Need a job? Maybe or maybe not, depending on how much income you're receiving from your renters.

There are plenty of Californians that own their home here but left for a cheaper state, and instead of selling just rent the property out. You do that, accumulate wealth and buy another property, etc.

It's not all about moving to Malibu or the Hollywood Hills. It's about completing owning at least one property in a desirable area. The rest will follow if you manage correctly.

[ima30something]

Originally Posted by DabOnEm

I've noticed this too. Blacks who own in Inglewood aren't selling, and they're telling their children/heirs not to sell either. Similar thing started happening in the Bayview-Hunters Point area of San Fran a few years ago. Many families built their generational wealth off of home ownership values increasing so much in California. It's good to see Blacks doing the same now after being redlined to some of the worst areas, which have now seen a positive reversal in value.

White person who bought in Inglewood a few years ago checking in. Can confirm. Most of our neighbors are older black families who have been in the area for decades. Our neighbor next door bought his home in 1982. Our home was owned by the same guy for decades as well...he passed and his kids got the property. They sold it to flippers for $400k and we bought it for $600k about a year later. His kids should’ve held onto it.