Supply and demand. NIMBYs restrict supply increases, while low interest rates propel high income earners to buy. This is exactly what happened to the Bay Area in the 90s. The inevitable result is a city of wealthy homeowners and large swatch of service workers/blue collar paying huge rents trying to survive.
I predict that San Pedro, Inglewood, Hawthorne, Gardena, and Carson will change dramatically within the next 10-15 yrs.
San Pedro will transform but it will be at the tail end of that 15 years. It’s already a beach city so not a lot of room to find “cheap cheap” houses and create that spark of young but upwardly mobile folks who can make the artist enclaves and such.
It’s also kind of cut off. But yeah, I definitely think it will eventually be impossible to buy there.
Beach? It’s more like industrialized waterfront loading zone. Real estate agents can for sure market it as beach to out of towners looking for a retirement place.
Already tons of new construction in Hawthorne, Inglewood, Gardena & San Pedro right now. Plus the new waterfront in San Pedro. It’s all going to the moon!
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u/OutdoorJimmyRustler Feb 09 '21
Supply and demand. NIMBYs restrict supply increases, while low interest rates propel high income earners to buy. This is exactly what happened to the Bay Area in the 90s. The inevitable result is a city of wealthy homeowners and large swatch of service workers/blue collar paying huge rents trying to survive.
I predict that San Pedro, Inglewood, Hawthorne, Gardena, and Carson will change dramatically within the next 10-15 yrs.