Buying a house in / around LA

Where do young bankers (asso’s / vp’s) with young family’s live in LA?

Interested in moving to LA to work in IB (currently work in IB in LOCL city), but want to know if that is even feasible with a wife and young kids. Anything under 2000 sq ft is a no go. Don’t mind a longer commute but anything over an hour is stretching it.

Are asso’s / vp’s even able to afford to buy a house in / around LA or do they rent until they hit D / MD and can afford to buy a decent house?

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