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| 2005/10/27-28 [Academia/UCLA] UID:40287 Activity:low |
10/26 http://www.thecalifornianonwilshire.com The Californian on Wilshire Blvd. is a luxurious condo development. It is completely sold yet the building is not even done. At a starting price of 1.5 million dollars per unit, I wonder what kind of people buy these condos. \_ This is only a few blocks from UCLA. You can't buy a house in the Wilshire/UCLA area for less than 1.5 mil. A 50 year old 2000 sq ft house 1/2 mile away from UCLA starts at 2.5 mil. So actually this is pretty cheap by the Westwood standard. People are rich. I see really REALLY nice cars on Sunset driving slowly and stopping and talking to really pretty young girls on Sunset and Belair all the time. Some of the girls are probably still in college. \_ I have a friend who owned a condo on Wilshire before he sold it to buy a $4 million house in Beverly Hills. He owns his own company (tax consulting) with about 100 employees. His neighbor was a fashion designer with 7 exotic cars down in the garage. Tyra Banks used to own one there. So did/does Barbara Sinatra. In a nutshell: wealthy people do! Duh! Lots of times as second homes, too. \_ This makes me depressed. --- coding monkey \_ Why? I know code monkeys who live in Atherton mansions or own fleets of Ferraris. (OK, they are very good code monkeys.) Being a code monkey doesn't make you not rich; being not rich makes you not rich. \_ A friend bought a condo in Las Vegas under similar circumstances then sold for 3x before the project completed. It's a game of hot potato; sometimes you win, sometimes you get burned. \_ My guess is that it will get cancelled after all the people speculating on condos cancel their reservations and lose their deposit money. |
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