In the case of silicon beach, it is the tech companies that sparked this. They moved in to Santa monice and nearby areas. In a matter of 5 years or so price of detached houses in near by cities (with decent commute meaning no driving on 405 freeway) jumped up 100%. When google and other tech companied moved in,'investors' saw the sign and started gobbling up houses to raze or remodel to flip. And you also have Chinese from China following the trend.
Some higher density condo/apartment were built nearby but I really don't see a sign they are even half occupied.
It is definitely the tech companies that sparked it. Not their fault necessarily.
Some higher density condo/apartment were built nearby but I really don't see a sign they are even half occupied. It is definitely the tech companies that sparked it. Not their fault necessarily.