Notes on the Geography of The Western United States: Los Angeles 2: Photo 40
Redevelopment was proposed--and resisted--in 1957, but in 1965 over 500 buildings along the beach were demolished. New commercial developments followed, while the community was divided between renters who wanted to keep the place cheap and property owners who had other ideas. You can see who won. An 800-square-foot bungalow is worth $400,000.
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