You know why!...San Fernando Valley is were the Hollywood rich lives (Encino, WestHills, Westwood etc.)I work in San Fernando Valley, Chatsworth area and you would not belive how many Ferrari's, Lambos, Maybachs, Maserati's and other assorted exotic cars are driving thru the neighborhood. Beverly Hills is nothing!
Homes/Condos are starting at a "low" 1.5 Mil's.
I remember reading right after cell phones became available (they were expensive) that the hottest selling item in LA was FAKE cell phones.