Equity Residential (EQR)

juliehowe (63.63) Submitted: 11/11/08 4:26 PM : Start Price: $31.09 EQR Score: 0.03

Recent local (L.A.) story about how upscale pawn shops in Beverly Hills are seeing big names and hot shots hocking their toys and taking out collateral loans on their luxury automobiles, because credit sources have dried up and these people still have to pay their rent/mortgage and feed their kids.





I see this as a bad sign for luxury rental housing as well, which is EQR's bread and butter, which is why I'm tagging this one to go down even further. There are also blocks and blocks of this so-called luxury housing that you can find in Los Angeles, and the buildings are empty. Brand new buildings, from Universal City all the way to North Hollywood along Lankershim Boulevard, and they're all standing empty.

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