As this tech workforce moved near the beach and the tech companies followed, the growth of the tech industry in L.A. “put legs under the city’s housing market,” said Paul Habibi, a professor in the Ziman Center for Real Estate at UCLA. “If real estate was strong before the tech sector, I think it’s made it increasingly so.”
Specifically, he continued, tech has helped the $1 million-to-$3 million segment of the market. “All the communities around Silicon Beach have undoubtedly succeeded due to the success of the tech sector,” he said.
[MG: 5/20/2019]
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