Barry MacNaughton Quoted on the Pandemic’s Impact on LA's Real Estate Market
Barry J. MacNaughton, ECJ's Co-Managing Partner and Partner in the Firm’s Litigation and Construction practices, was featured in a March 29, 2021, Los Angeles Business Journal article, "Law Firms Race to Keep Pace With LA’s Heated Real Estate Market."
The article, which is part of a 2021 Law Special Report series, discusses different law firms’ reactions to the pandemic and how the events of 2020 influenced the real estate market. As panic began to spread, many businesses in Los Angeles County prepared for the worst. ECJ kept the 2008 housing crisis in mind expecting revenues to go down but “that didn’t happen for us at all. The market for commercial property has remained extremely strong."
In fact, Barry notes that he was able to double his typical volume of construction defect cases during the pandemic and ECJ’s Real Estate Department led the refinancing or purchase of numerous large projects. “Part of the rise in construction litigation is directly related to the pandemic and people watching their money, but part of it is the boom. Everybody’s building and building more.”
Read the full article for more insights.