[artplumber]

Originally posted by SoCal911SC
But wasn't all of that true for the past 50 years? That doesn't explain the graphs above. Hancock Park has always been a nice area. What happened in 2003 or so that hadn't happened in the past 50 years to suddenly make everyone realize it and drive prices up sharply?

(I'm not saying there won't be a price decrease). There are always thresholds beyond which things happen dramatically. Very easy to see in illness. You're noticing just a few minor symptoms learn to deal with them, and then BAM suddenly you're in the hospital with five new diagnoses and needing surgery.

People have to live in LA (the job is there, family there, whatever). Space is limited in areas where people can live - no one wants a 3+ hr drive twice a day. People want single family detached homes with garages. Many families earn more by having 2 incomes. Add in mortgage rates/lending practices and things start to takeoff.

Anyone who "knows for sure" what will happen, whether slowdown, minor bust, or the apocalypse is kidding you.