ROCKET BAY
NEW WEALTH. SMART DECISIONS. WHAT COMES NEXT.
S O U T H B A Y , L O S A N G E L E S
W E L C O M E T O
P E O P L E
I D E A S
O P P O R T U N I T Y
A S T R O N G E R
S O U T H B A Y .
P A L O S V E R D E S R E D O N D O B E A C H H E R M O S A B E A C H M A N H A T T A N B E A C H T O R R A N C E
WELCOME TO ROCKET BAY
How a New Era of Wealth May Be Shaping the South Bay
E D ' S V I E W
W E E K 1 O F 1 6
When I came to the South Bay in 1983, it was
a completely different place.
Manhattan Beach, Hermosa and Redondo felt
like true beach towns. Downtown had T-shirt
shops, sandwich places, pizza joints and small
local businesses. Aerospace was a major part
of the local economy, and when you thought
about the wealthier residents, you were gen-
erally talking about doctors, lawyers and suc-
cessful business owners.
I started selling real estate here in 1987, so
I've had a front-row seat to almost 40 years of
change.
We've been through aerospace layoffs, reces-
sions, the financial crisis, building booms,
ultra-low mortgage rates and now rates that
feel high to some people but are actually much
closer to historical norms.
Through all of that, the reasons people want to
live here really haven't changed. The ocean.
The weather. The schools. The lifestyle. The
sense of community. Add in LAX, access to
Los Angeles business centers and the fact that
we can't create more coastline, and the basic
formula is pretty easy to understand.
What has changed is who is competing for it.
Families displaced by the Palisades fire dis-
covered the South Bay. Professional athletes
continue to move here. Entrepreneurs and
business owners have liquidity events every
day. And now SpaceX has created another
major wave of wealth practically in our back-
yard.
That creates a different kind of buyer.
For some people, the question may no longer
be, "How much house can I afford?"
It may be, "Can I actually find the house I
want?"
That distinction matters in a market where
there may be only one great property that fits
a buyer's needs — and sometimes that prop-
erty isn't publicly for sale at all.
That is where I think the next chapter of the
South Bay gets very interesting.
The future belongs to those
who recognize opportunity
early.
E D K A M I N S K Y | 3 1 0 . 4 2 7 . 2 4 1 4 | I T Z S O L D . C O M
#1 REAL ESTATE AGENT IN THE SOUTH BAY | TOP 15 IN THE NATION (REAL TRENDS) | OVER $4 BILLION SOLD
TM
