Those don’t even look like anything special. And the location is amazing but also probably $$$$ to insure.
If I’m spending the equivalent of the price of a whole damn house in rent per year I better at least have the kind of house where you host all the family holidays.
As a current resident of LA, yes it really is that expensive even for a crappy house. A house on our block went up for sale. We live two blocks off of the 405. Hadn’t been updated since the 70s. Went up for sale for 1.5 million. Insane.
$300k a year and still own nothing though? Idk I guess I don’t understand being able to afford that but still renting.
Rich people who only wanna stay during the winter/summer whatever.
To be fair, we never “own” property . Stop paying property tax and you’ll see who the real owner is (the bank) . Buying a home is a scam. It was invented to keep people in debt and to keep the bank strong with those high interest rates. I did research for this at university
So, paying rent is better? Where is one supposed to LIVE? (With mommy?)
I understand property tax, but if I pay $300k in rent vs 300k on a mortgage, the second scenario is the only one in which I can get any of that money back.
A rich person would rent a place like that for vacations.
Idk though. Maybe super rich don’t care anymore I guess. Cause otherwise it just seems like you could pay the same amount on a mortgage and have some equity when you get tired of it. I’d think rich people would be better with money. But then I’m not rich so I guess nobody should be taking advice from me lol.
My brother and SIL lost out on multiple houses near LAX that went for close to 2 million. 🤯
Nothing in my neighborhood is under $3.5 and that’s a fixer upper. We’re moving out of the city.