Developers in LA are building modern-day palaces with amenities like bowling alleys, hair salons and nightclubs, and they’re counting on the world’s billionaires to buy them. But even with all the wealth sloshing around the .1 percent, it looks like the people building these “giga mansions” might have overestimated the demand.
From giga-mansions to city lots, housing for CA’s richest and poorest
From this Episode:
Is LA in a giga-mansion glut?
The house has a name: “Opus.” It sits in the Trousdale Estates section of Beverly Hills, on a cul-de-sac that realtors refer to as “billionaire’s elbow.”
What can $1,000 a month get you in LA? Not much
Chances are there’s no infinity pool, champagne room, or crystal aquarium in your future home. It’s hard enough to pay the average rent in LA. So what’s the current state of...