LA homeowner here. Short answer is: not entirely true, as written.
The situation is that a vast expanse of the (very large) city of LA, and key enclaves like West Hollywood and Santa Monica (not formally part of LA, but surrounded by it) has had large and steady price increases for the past ~60 months straight. Renters have been priced out of one neighborhood after another.
It has caused a huge upheaval as people who had not noticed the pace of change have had to move to distant neighborhoods, or out of the area entirely. You see a lot more homeless, and there is a political struggle about people living in mobile homes parked at the edges of parks, etc. This upheaval is a hot issue.
But (coming to the point) it is still, barely, possible for middle class people to find homes in LA city. But you have to pay a lot more (say, 400k), and/or accept some living conditions that are marginal. When middle class Anglo families are seriously considering moving to Boyle Heights condos...it's a new thing.
I don't have time just now, but looking at real estate listings for Cypress Park might be informative. This is a tough neighborhood with significant long standing gang activity. Not South LA (aka "south central"), but close.
Example: https://www.redfin.com/CA/Los-Angeles/3608-Arroyo-Seco-Ave-9... (sold for 360k last year).
The situation is that a vast expanse of the (very large) city of LA, and key enclaves like West Hollywood and Santa Monica (not formally part of LA, but surrounded by it) has had large and steady price increases for the past ~60 months straight. Renters have been priced out of one neighborhood after another.
It has caused a huge upheaval as people who had not noticed the pace of change have had to move to distant neighborhoods, or out of the area entirely. You see a lot more homeless, and there is a political struggle about people living in mobile homes parked at the edges of parks, etc. This upheaval is a hot issue.
But (coming to the point) it is still, barely, possible for middle class people to find homes in LA city. But you have to pay a lot more (say, 400k), and/or accept some living conditions that are marginal. When middle class Anglo families are seriously considering moving to Boyle Heights condos...it's a new thing.
I don't have time just now, but looking at real estate listings for Cypress Park might be informative. This is a tough neighborhood with significant long standing gang activity. Not South LA (aka "south central"), but close. Example: https://www.redfin.com/CA/Los-Angeles/3608-Arroyo-Seco-Ave-9... (sold for 360k last year).