A year and a half ago I was looking at real estate in El Segundo, seeing as I was working there at the time. Your average 2bdr 2 bath was coming in around $535,000-600,000. Even though prices have come down everywhere and the foreclosure rate is through the roof and product isn't moving as much the prices in El Segundo haven't dropped that much. Why? I'm glad I walked away (almost got into one place on a negative am-) not just because of the lender but that dang Chevron plant friggin' reeks and dudes and dudettes that sh** can't be good for us!

The beach areas are last affected by downturns and recover the quickest.

But ES I've never understood. It has so little going for it (all the industrial plants, refinery, etc). It's like a giant business park with some small houses that happens to touch the water.