"A lot of agents are sort of attacking the same markets like hyenas,” said Eric Sussman, a lecturer at UCLA’s Ziman Center for Real Estate and a managing member of Clear Capital, a real estate private equity firm. “There are only so many mouths you can feed with so many transactions. The supply of residential properties in a market like Los Angeles is relatively fixed. You don’t see a gazillion new homes or condos being built. And you have people here already to sell that supply. It’s a zero-sum game...”
Recent Comments