Any thoughts on covid impact to LA’s wild pricey market? My pessimistic viewpoint is that economy will be hit hard by end of year and trying to think through downstream impacts. We are sitting on our downpayment and we’re in the market for but now very hesitant to stretch our budgets in any way.

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Exact.Same.Situation.

I don’t have any advice to offer as I’m seeking advice on this myself. I was told by a couple of people in my family to hold my cash for now; my realtor (super nice lady) has also said to monitor the market carefully and not take any rushed decisions.

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And I think it’s about less of a rushed decision. I’m sure you’ve through through how much you can afford, etc: see home that fits your budget and hits your criteria then buy.

I think it’s more about the downsides of something bad happening and if you can weather it. The thought of such uncertainty over the next 6 months is crazy!

Prices haven’t fallen off yet, which is unlike any recession we’ve ever gone through (regardless of the cause of recession). I am waiting for the drop. If nothing else, I have significantly larger savings should I lose my job in the interim.

I think the inventory of desirable housing is relatively low in LA. All the new construction has been for lease only.

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