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The Loft / Condo Divide

By Eric Richardson
Published: Tuesday, November 22, 2005, at 12:17AM

There's an article in today's LA Times on the change in Downtown housing as condo has largely surpassed new rental properties. The divided ambition between renters and purchasers reads to me as the focal point of the piece, but I really don't know that I buy into it.

The shift is becoming increasingly evident, said five-year loft resident Marie Condron, a founder of the popular Internet listserv newdowntown, where residents talk about local issues and offer tips on shopping and services.

She too sees a divide between the renters and the buyers. "The people who are buying are investing in a hot market," she said. "The renters are more here for the community and the neighborhood."

I think it's still too early to judge the intentions of many condo owners. Sure, there are people buying to flip the property later (perhaps a risky proposition in the near term), but I know plenty of people who've bought condos that absolutely believe in Downtown and love the neighborhood.

On another note, nothing against Pedro and Natalia Galindo (who I don't know, and I'm sure are great people), but I had to laugh at the two photos of them attached to the story. Those are some Grade A hipster poses.


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