Occasionally, I read comments to posts that are so good in my opinion, that they should be elevated to their own post.
The author of the comment is 'km' and is well known by many members of OUR community and the person offers many hours of volunteer work to OUR community and some very good endeavors.
The Comment was written to the post I published after the post: The Strange and Mysterious Case of The Day After.
Here is the comment.
"His (Bob Bisno) numbers were always ridiculous. He was proposing charging more per sqaure foot than comparable properties in RPV. Even at the market peak you could still get a single family home on its own lot in Pedro for the same or less than what Bisno was talking about charging for his attached units. Right now there's a 3 bedroom, charming little 1900 Vic going for 290K in a short sale near me.
It boils down to what I told him at the very first Ponte Vista meeting- "You knew that property was R-1 when you bought it. If you can't make a profit at the price you paid, that's not my problem. That's your bad business decision."
Of course, in a way you can hardly blame him. It's not as if it's a secret that, in LA, land is worth what you think you can change the zoning to. It's not as if LA stands up to developers."
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