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Post by renoman on Feb 6, 2008 16:56:12 GMT -5
Even Hollywood's rich and famous can't avoid the housing downturn that's sweeping the nation. In Los Angeles, only 4,430 homes were sold in December, down 48% from the previous year. And prices fell 11% to an average $470,000.
Of course, celebrity homes cost much more than that. An entry-level house for an up-and-coming star costs at least $1.4 million in L.A., say experts. Realtor Barry Sloane of Sotheby's International Realty says it's the owners trying to sell homes in the $3 million to $6 million range that are having the most trouble.www.forbes.com/business/2008/02/05/hollywood-economy-housing-biz-media-cz_dp_0206realestate.html
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Post by Chilehead on Feb 6, 2008 20:11:13 GMT -5
I guess I should go buy a few of those houses to help bail out the market.
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Post by ken on Feb 8, 2008 20:06:08 GMT -5
At least sell them...
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