Did you get your glossy copy of Digs Magazine? I got a flyer the day before that I could thank one Alex Abad for the honor that Digs is now serving El Segundo.
As I looked through 132 pages of glossy advertisements all I could think was this reeks of 2006.
In 2004-2006 everyone was making money, everyone had their finger in the real estate game. All the brokers were rolling in S Class Mercedes’ selling dreams and collecting 2.5% all day long. Until they weren’t. Until the economy and the house of cards it was built on collapsed. And then all the
“salesman” agents and mortgage brokers realized their skill set didn’t warrant six figure salaries in the real world. One only needs to watch the end of The Big Short for a reminder.
So back to the jerkoff glossy Digs magazine. It’s one big advertisement where one agent is trying to outdo the next. What they don’t realize is that the only one that benefits is Digs Magazine. Each page is paid for by a different agent hoping to show the other agents that they are awesome. I guess it’s the paper version of Instagram where everyone is faking how great their lives are. I found it sad and another canary in the coal mine that this house of cards is bigger than the prior and when it falls it’s gonna hurt.
Manhattan Beach is 3.94 miles squared; Hermosa is 1.4 miles squared.
Manhattan has 98 active homes on Zillow; Hermosa has 37! Do we need to go back to our economics lesson on supply and demand?
What else is grossly apparent after browsing Digs is how El Segundo does not fit with the rest of the magazine. We have a couple homes listed that might make the cut, but for the most part we are a town where 50% of the residents rent, many are working class and the great majority do not have seven figure incomes.
How bout Alex just move to Manhattan? He’d fit right in.