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Home prices drop precipitiously on LA's westside, surprising some

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The Villaraigosa/Goldberg formula for grabbing civic revenue by increased density may be having a profound impact on property value on the westside.

Some of LA's priciest properties on the westside tanked in the last quarter of last year, the Times reports, surprising some.

As the westside is not nearly as vulnerable to foreclosure impact as other parts of town, and pricey properties have a smaller range of buyers who have generally not lost weatlth through the downturn, the price drop may be directly tied to emerging quality of life issues; buyers may be rejecting the congestion attendant to westside living.