Newsflash: [CA] Lots of empty lots around LA seem to be cheap. What’s the catch?

It seems like there’s COUNTLESS lots in LA suburbs going for 20-30k (example https://www.zillow.com/homes/for_sale/pmf,pf_pt/2097104659_zpid/globalrelevanceex_sort/34.152229,-118.098135,34.03054,-118.256064_rect/12_zm/ )What is the catch about buying this for investment? While houses go for 500k$+ out here minimum, why aren’t more people buying lots like this for development or investment?

Read more at https://www.reddit.com/r/RealEstate/comments/6mnsm4/ca_lots_of_empty_lots_around_la_seem_to_be_cheap/?utm_source=ifttt

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