July 15, 2014
To Richard Green, the director of USC’s Lusk Center for Real Estate, Downtown in 2014 is like the Westside of 2007: The area is desirable partly because of a lack of affordable housing in surrounding neighborhoods. Plus, he added, there are enough amenities that allow people to live in Downtown without feeling like they are giving something up.
Another Downtown strength, he said, is that it’s cheaper than nearby neighborhoods that are even more desirable. In Silver Lake, he noted, houses sell for $600-$700 per square foot. In that regard, $575 looks like a good deal, he said.