Thousands of people move to Los Angeles County for the nice weather and beaches each year. Even though, the COVID-19 had things at a halt for a few months the real estate market and rentals seem to be doing pretty good. Los Angeles County is approximately 4,000 square miles, it is also one of the biggest counties in California. My financial planner partner was talking about the difference between two Fortune 500 companies, both dealing with the uncertain economy due to Coronavirus.
“Company A (he mentioned the name, but I won’t) was in trouble when times were good. When lots of people were buying the types of products they sold, they were less and less likely to buy Company A’s products. Now nobody buys from Company A. They don’t have a chance. Their stock is down and it’s not coming back up.”
“Company B made great products and they’ve got lots more on the way. They’re a victim of their own success, only in that they planned for a certain amount of growth and they didn’t get it – so now they’ve got to take some losses and cut some of their workforces. Their stock has been dragged down by general trends. It’s not their fault, and they’ll help lead the way out of this.”
COVID-19 Take Its Toll in Los Angeles County but Sales and Rentals Are Rising
I was reminded of this conversation when I saw a report describing Los Angeles County and Detroit as two of America’s “most vacant cities.” At the time.
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