terra non firma

hey buddy, got $60 million to spare?

my friends and I like to joke that the housing market is a lot like the luxury jeans market these days - there seems to be no price too astronomical, too outrageous, too absurd that someone won't pay it. and like with jeans that sell for four figures, you have to wonder, what can possibly be worth that price? are they made out of diamonds and gold? no? they have "nail holes in the doorway from Christmas decorations and peeling paint on the outbuildings," you say? but still priced at $60 million? oh right, that's LA.

the wsj takes a look at some of the most expensive properties in the US that have been on the market for years at some of the most outrageous prices imaginable, and explores the (twisted) psychology of the sellers. and of course, LA scored a spot in this list. ranch teardown in brentwood, anyone?

posted by marissa @ 4:18 PM