Think of the Los Angeles housing market as hundreds of escalators.
They are all going up, but at different speeds, at random angles, and various heights. They might slow down, they might stall, and they might even briefly reverse.
Each escalator represents a specific house, a kind of house, or a neighborhood. The higher you go, the more expensive the homes.
When you buy a home, you pick an escalator.
Don't worry, you're not stuck with your choice -- you can hop on and off, but you'll likely only ride three in your entire lifetime, so choose wisely.
And no need to panic -- they're all going up! The most important thing is just getting on. And the sooner in your life, the better.
Buying a house is like choosing a career or settling on a spouse. You are placing a bet that can turn out big, or one you might look back on in 30 years and think mmmm….wish I had chosen differently.
Again, don't worry, they're all going up over time! Any house you buy, anywhere in LA, will one day be worth $10 million. Might be 2062, but it'll happen. Some are already there!
But which escalator will take you the highest, in the least amount of time?
Simple answer that bears repeating: location, location, location. And don't get off.
So buy the best house in the best area you can afford (and it's okay to go broke doing it), and don't sell.
