First-time buyers are circling east LA neighbourhoods like Boyle Heights, Echo Park and the unincorporated parts of East Los Angeles, according to Smith.

BBC: Living in: Los Angeles

In Echo Park, southeast of Hollywood, the lit-hip tone set by iconic bohos like Charles Bukowski and John Fante, and later Tom Waits and Elliott Smith, endures.

WSJ: Insider's Travel Guide to Los Angeles | Journal Concierge

It is not clear why locals prefer the crowds on Malibu and Santa Monica's beaches and in the shops of Beverly Hills and the hipster enclaves of Silver Lake, Los Feliz and Echo Park.

BBC: The hidden treasures of seaside San Pedro

At Taix, a French restaurant and bar in Echo Park, on the east side of Los Angeles, patrons who hadn't appeared to be closely watching Friday's game suddenly became hushed and focused on the television screen broadcasting the game, watching intently as Mr. Bryant left the court.

WSJ: Ruptured Achilles Ends Bryant's Season