Every day, the news reports indicate that home prices are falling. And here in Los Angeles, the price of a single family home has supposedly dropped 26.7%
So I wonder, as always, if it is finally possible to find a decent home in a decent neighborhood where your neighbors are not a pack of pit bulls, and the kids might be able to walk to school, and your wife (if you have one) might be able to walk around outside at night?
And then I find a three bedroom, two bathroom home in bland but increasingly hip Culver City, a town that has always reminded me of Burbank. The residence looks in the advertisement like so many 1950’s starter houses, the ones that G.I.’s bought for $15,000 with $3,000 down and mortgage payments of $150 a month.
What might they be asking for this modest little nothing house? $1,050,000
Over a million dollars.