I Don't See A Housing Crash In Pico-Robertson

I don't see housing values dropping much nor rents dropping. They are dropping in Beverly Hills.
Pico-Robertson is the heart of Modern Orthodoxy in Los Angeles. If you look around on Shabbat, thousands of Jews are walking to synagogue.
In Orthodox Judaism, you are not allowed to drive on holy days such as the Sabbath and holidays such as Pesach, Shuvuot and Succot.
This creates tight-knit communities. People have to live within walking distance of a synagogue.
I'd say we have at least 50,000 Jews within two miles of Pico-Robertson.
Wherever Jews live, real estate values tend to be relatively high. Jews improve communities as they improve countries.
Countries that are good to the Jews, such as the United States, Canada, England and Australia tend to be prosperous. Countries unfriendly to the Jews tend to be sunk in barbarism, such as Saudi Arabia and the other Arab states.
Jews who follow Judaism or remain influenced by it tend to lead higher quality lives. Judaism encourages the pursuit of learning, the putting off of immediate but destructive pleasures for future gratification. Judaism encourages commitment to family, to community, to a transcendent value system and to hard work.
The Fourth Commandment not only mandates keeping the Sabbath holy. It also mandates the Jew to work six days a week.
Most Jews came to the United States poor, but they worked hard, got an education, provided for their families, and maintained their values inside the ghetto until eventually they saved enough to create a prosperous life for themselves and their children. Jews are by far the richest ethnic or religious group in the United States, twice as rich as the next richest ethnic group, Japanese-Americans.
Good values tend to lead to good lives, and one part of a good life is wealth. There's no mitzvah to be poor in Judaism. The Torah teaches us to be compassionate towards the poor and Jewish charities do a great job providing for poor Jews and helping them develop job skills that will help bring them out of their poverty.
As a result, Pico-Robertson is getting more Jewish every month and its real estate has retained its value.
I remember one Shabbos morning I was at Young Israel of Century City. The speaker wondered about the soul food restaurant moving in next door. "Do they know something we don't?" he asked. "Will our real estate values be dropping?"
Ever notice that most real estate around Martin Luther King Blvds are relatively low in value?
Black economist Thomas Sowell wrote that "Even when Jews lived in slums, they were slums with a difference: lower alcoholism, homicide, accidental death rates [and] lower juvenile delinquency rates."