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But by March 2026, the real estate firm predicts home prices across the L.A.-Orange County metro area will be 2.4% lower than they are today, in large part because of rising inventory.

The L.A. metro area has more foreign-born residents than any city but New York, many of whom go back and forth to their ancestral countries with some regularity.

All domestic flights have been cancelled, while trains and metro services have been suspended in Buenos Aires and other parts of the country.

“There are more Flock cameras in the Los Angeles metro area than almost any other vendor, and detectives are regularly using them to solve crime,” she said.

But the precarious nature of demand and fragmented demographics of smaller towns could make it expensive for quick commerce players to expand and make money beyond the metros, says Mr Bisen.