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Young Homebuyers Rapidly Moving Into USC-Adjacent 'Hoods

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Rising home prices throughout the city and the development of the Expo Line have brought the charming, affordable homes of architecturally diverse Jefferson Park, bike-friendly West Adams and artsy Leimert Park to the attention of "young professionals", says the LA Times. For so long, many dismissed nice homes in these area with a "too bad about the location" comment, but now young people priced out the homeownership game where they're renting (on the Westside, Downtown) are realizing that these communities are viable options. The median home price of the area's red tile roofs and bungalows jumped to $450,000, a hefty 40.6 percent in the first quarter (compared to last year's). Houses that need help in the curb-appeal department are getting flipped at an increasing rate. 11.5 percent of homes sold in the three areas between January and March were purchased, fixed, and sold at a profit. If this is what it's like with just the Expo Line up and running, imagine the gentrification when the soon-to-come Crenshaw Line is up and running.
· Soaring home prices spur a resurgence near USC [LAT]