LOLa - An Exhaustive Examination of the Los Angeles Housing bubble.

[nittanylion302]

http://www.realtor.com/realestate/los+angeles-ca-90036-1094719393/

And they say that the housing market has crashed!

Really? Nearly one million dollars for that?

[Hustler]

http://www.realtor.com/realestate/los+angeles-ca-90036-1094719393/

And they say that the housing market has crashed!

Really? Nearly one million dollars for that?

Welcome to Los Angeles. If that house were in a better area, it could probably sell for $1.5 million... not that it's in a terrible spot or anything, but there are better. My friend's tiny-ass 850 square foot, two bedroom house in downtown Culver City is worth over a million. If you're looking for a bargain, move to Wichita, not Los Angeles.

[eyebyte_atWork]

Housing Market refers to new homes - mostly middle class homes across the US as a whole. LA is a strange place - so many people want to live there that it drives up the prices. SF and NYC are the same way - So only more affluent people can get their foot in the door.

I get that your comment on the housing market was a tongue in cheek comment meant as humor. Still - LA sucks - thats my comment on the LA housing market. Too much money for a home that size.

[Hustler]

I get that your comment on the housing market was a tongue in cheek comment meant as humor. Still - LA sucks - thats my comment on the LA housing market. Too much money for a home that size.
Hey, that reminds me of a joke I heard...

If you think Dallas is better than LA just because you can buy a bigger house for the same money, you might be a redneck.

[Supergirl]

The condominium prices in Los Angeles have dropped about 10-15% but the homes in West LA are holding their value for the most part. And homes in the very high value range are not affected at all by the drop in real estate. There is a home in Brentwood, CA that just sold for $16 million. It was on the market for only one day and now it's in escrow. The homes in the $5M + range are selling like hotcakes. Westwood, Santa Monica, Brentwood, Beverly Hills, Bel Air, Century City...all very desireable places to live.