$1.3 million two year ago could get you one of those porter ranch toll brothers houses, now does are going for closer to $7-10 million, though maybe this isn't too bad given the location. Although these days buying in the city of Los Angeles means you pay a higher tax when you sell or as the home builder to fund housing for the homeless, and not a small tax but a quite substantial one. Better off buying in another city with lower real estate taxes and the same or better property values. Maybe we will see a price drop in the over taxed city which will screw homeowners and developers of multi family housing which are supposed to be part of the solution to the housing crisis rather than using social programs and socialism at taxpayer expense.