Why Is Signal Hill Suddenly so Expensive??? (Hermosa Beach: real estate, foreclosure)

[WaterFrontStories]

Looking for a 1 bedroom apt in Signal Hill and the minimum thus far seems to be about $1600.00 with a parking space...What the heck is going on,is this the norm now...I left SoCal 2 years ago for work assignment and now I am back and just don't understand...I am even finding cheaper apts in Hermosa Beach/Redondo beach even that is my second choice of where I want to stay,as I like to be just a few minutes from the 405 Freeway...

[Charles]

Originally Posted by WaterFrontStories

Looking for a 1 bedroom apt in Signal Hill and the minimum thus far seems to be about $1600.00 with a parking space...What the heck is going on,is this the norm now...I left SoCal 2 years ago for work assignment and now I am back and just don't understand...I am even finding cheaper apts in Hermosa Beach/Redondo beach even that is my second choice of where I want to stay,as I like to be just a few minutes from the 405 Freeway...

From what I've read from knowledgeable people on CD and on the LA Times and other news sources, the foreclosure thing has increased demand for rentals (and thus increased the rent). Would Signal Hill have been affected by this more than Redondo/Hermosa?

[SOON2BNSURPRISE]

Welcome back to California. Just in case you haven't noticed the Real Estate boom pushed everything way up. Now with the bottom falling out, As CHARLES stated, people are losing there homes and they need to rent. Now those prices are shooting thru the roof. Must be good to be a landlord now. Rents have been increasing with a bust or a boom. I don't get it myself. Guess that is why I am on my way out of here for the Phoenix area. I love So Cal, just can't take the prices anymore. Especially since I can buy new for less than my rent on a 35 year old 2 bedroom appartment.