Recently, I have been involved in purchasing more than 30 parcels of land in the Antelope Valley. Not one seller was selling for fear of falling prices. All were demanding increases in prices and getting them from us, private developers and other companies involved in land banking.
There is no other area in the United States that has the density of population and the net growth rate that can compare to the 60 miles radius surrounding the center Los Angeles. Combine that fact with the huge economic engine in that area (LA is the 11th or 12th most powerful economy in the world) and what do we have? AN UNPRECEDENTED DEMAND FOR LAND!!
On July 12, 2007 the Southern California Association of Governments and on September 11, 2007 the California Department of Housing and Community Development released the Regional Housing Needs Assessment requiring north Los Angeles County to increase the total number of dwelling units by 73,519 BEFORE June, 30, 2014. They have less than seven years to accomplish that feat.
Of that amount, Palmdale is expected to add 17,910 of the new dwelling units, or 24% of the total before June 30, 2014. Lancaster has been assigned to add 12,799 new units, or 17% of the total before June 30, 2014.
The two cities have approximately 83,767 existing dwelling units. Together they are expected to increase the number of units by 30,709—a 36.7% increase in the next 7 years. Those numbers do not include the additional expansion in the other areas within the Antelope Valley. Now you know why private developers and land bankers are quietly, but very intently, buying land in the Antelope Valley.
DON’T WAIT!
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