Today's Real Estate Question
So, in the Taschen Icons book on photographer Edward Weston, the text tells us, on page 14:
In 1929 Weston rented a cottage in Carmel, an isolated seaside village in northern California with a history of being an artists' colony. There he lived simply and inexpensively, close to some of the most spectacular landscapes in the American West...That's all well and good, but if an up-and-coming photographer today wanted to do the same, he'd probably have to spend something in the neighborhood of $2 million to buy a house there. Carmel is only really open to artists these days if they're superstars.

So, my question is not "Why is real estate so expensive along the coast," because that's obvious---the weather's great, recreational opportunities abound, the culture is relaxed, and there is, of course, "some of the most spectacular landscapes in the American West." My question, rather, is how was this land ever cheap? Why was Carmel affordable for simple-living artists in 1929 instead of only for captains of industry? Why did wealthy people in Southern California not drive up the price of coastal property beyond the reach of surfers and recent grad students until recent decades?
And are there any affordable places to live on the coast in California now? Ventura? Somewhere farther up the coast? A lot of beach cities used to be working-class towns. Are there any working-class beach towns remaining?