LME Investments Weekly Newsletter - 09/21/2025: IMN Conference, Fed Rate Cut, $910K Median Home Price! mailchi.mp/lmeinvestments…

I think it's worth noting that most ED1 projects in LA were underwritten on Section 8 / voucher rents. Yet, there's a limited supply of voucher renters, not to mention, federal policy might further reduce the # of people on vouchers. These are major headwinds for ED1 projects.

LME Investments Weekly Newsletter - 9/28/2025, $3B LA convention center expansion, $92M student housing project. mailchi.mp/lmeinvestments…

Brokers or sellers saying "cap rates are coming down" doesn't make that so. I've heard a few say this, and I ask for a recent comp - which doesn't confirm what they've said. There are some markets / submarkets where they may come down, but saying it doesn't make it so.

LME Investments Weekly Newsletter - 10/5/2025: mortgage rates rose after Fed cut; Rick Caruso's house sold for $48M. mailchi.mp/lmeinvestments…

A good read from an actual LA developer, on why ground-up development in Los Angeles isn't happening. Many many serious issues.

LME Investments: Weekly Newsletter - 10/12/2025 - Governor Newsom signed SB79, new construction hits 10-year low! mailchi.mp/lmeinvestments…

LME Investments: Weekly Newsletter 10/19/2025: LA Housing Authority Buys 154-Unit Luxury Apt; developers face challenges; Sofi Kali Hotel mailchi.mp/lmeinvestments…

Every metric in multifamily has some relevance - but price per door is in my view the least effective without knowing unit mix. In LA, we have buildings that are heavily studios, and some (less common) that are heavily 2 beds. Of course one has a higher price per door than other.

Question a friend who invests elsewhere but lives in LA: For all the hassles of investing in the city of Los Angeles, would you still buy older apartment buildings here today? My answer: Yes, at right price. On most listings, still not at that price. Needs to drop more.

LME Investments: Weekly Newsletter - 10/26/2025, LA home sales report, Lido apartments in foreclosure! mailchi.mp/lmeinvestments…

LA being a bit oversupplied on apartments was not in my cards in say, 2022. However, I think it's a good thing for society to build more housing - and we need more of it.