Los Angeles Real Estate News: How the City Stacks Up

Los Angeles is one of America's largest cities and this week we got stats on how the L.A. area compares to others around the world in terms of retail rents, and how the federal home-buyer tax credit helped L.A. in comparison to other U.S. cities.

We also learned about some noteworthy L.A. citizens, from the richest to the "Best" (there was no overlap). And how you can get in on planning and building in Santa Monica.

Here's what happened in L.A. real estate news last week:

  • U.S. home sales jump 7.6 percent in April over the prior month. Likely reason: the expiration of the home buyer tax credit. However, this didn't affect California's home sales, which dipped slightly from the prior month, according to the Los Angeles Times. It's expected that many who took advantage of the credit will be counted in May or June, so we'll see how those numbers pan out.
  • Los Angeles was rated no. 12 in the most expensive retail rents in the world, according to CB Richard Ellis.
  • We wrote last week about Los Feliz homes suffering with the rest of real estate, but the L.A. Times is doing its part to help "Loss Feliz," profiling a $2.45 million dollar 1929 house.
  • If you want to get in on Santa Monica development for the next two decades, the Santa Monica Daily Press tells about the Planning Commission's next workshop. These are held before decisions are adopted to work on the final plan.
  • Los Angeles Business Journal's annual list of the 50 "Wealthiest Angelenos" came out: A biotech engineer tops the list, with the rest of the top 10 including many Hollywood moguls and a supermarket magnate. With their net worth up to $93 billion this year, they can afford to buy some good real estate, non?
  • Interior Designer and HGTV Design Star winner Antonio Ballatore is one of those profiled in LA Weekly's "Best of People" issue for 2010. No wonder he is the self-proclaimed "Lady Gaga of Interior Design" -- he used to be a set designer for Annie Leibovitz and David LaChappelle.

See homes for sale in Los Angeles at AOL Real Estate.
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