“An economic downturn is always a good thing for preservation,” says Regina O’Brien, chairperson of the Modern Committee of the Los Angeles Conservancy. “A lot fewer developers are making a lot less money, and therefore they have a lot less motivation to pursue these profit-oriented flips. But the problem is that the opposite is true when the market picks back up.” — thedailybeast.com
After a short day of demolition, the Lloyd Wright-designed Moore House in Palos Verdes Estates is gone. The city council denied an LA Conservancy appeal of the demo last night and the Conservancy's Director of Communications Cindy Olnick tells us she's just heard from the city that the deed is now completely done.. the current owner bought it in 2004 and says he never even knew who Wright was. For years now the owner has been trying to tear the house down and build a Mediterranean-style house... — la.curbed.com
Here in Merced, a city in the heart of the San Joaquin Valley and one of the country’s hardest hit by home foreclosures, the downturn in the real estate market has presented an unusual housing opportunity for thousands of college students. Facing a shortage of dorm space, they are moving into hundreds of luxurious homes in overbuilt planned communities. — nytimes.com
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