Source: LA Business Journal —
The rich keep getting richer, especially if they’re involved in real estate in Los Angeles.
For many of L.A.’s billionaires, not surprisingly, real estate is a key source of income, either because it’s their primary business or because a large part of their portfolio is invested in commercial or residential properties.
Real estate experts say L.A. remains an attractive real estate market when it comes to investment. Rising property valuations and a lack of new supply coming online continue to drive the market in Los Angeles County.
According to Stuart Gabriel, director of the Ziman Center at UCLA, “there’s a whole bunch of reasons,” why someone would want to invest in L.A. real estate.