Comments on: Real Homes of Genius: Today we Salute you Hawthorne. $100,000 off Sale of the Millennium.

By: reader

reader — Fri, 12 Oct 2007 16:15:22 +0000

RE pictures are often deliberately misleading. Sometimes they make the property seem far more appealing (lot more spacious, cleaner, up-scale etc.) than it it might be in actuality.

By: audax

audax — Fri, 12 Oct 2007 06:24:54 +0000

Wow. Each Real Home of Genius just seems impossible. Love the expose.

BTW- I think the rent vs. own analysis is great but I wonder how many people would put any of the price differential into savings? That would increase the renting incentive I would think. I took a different route, I lived in a cheap house /bad neighborhood because even if I were unemployed I could afford the mortgage. Those were different times.

By: RE.Agent

RE.Agent — Fri, 12 Oct 2007 05:36:33 +0000

It’s a new paradigm, and everybody who doesn’t buy, now, will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their property will continue its 30% yearly price increase.

Renters, and anybody born in a future generation, will not be able to afford a $10,000,000 starter home in 15 years. They will live in tent cities, and Hondas.

This asset bubble is different than all of the others - it will never slow down, or pop. The gains are permanent.

By: Econostag

Econostag — Fri, 12 Oct 2007 04:11:35 +0000

I was born in Hawthorn in 1959. My parents sold their home there for $7,000 in 1960 and moved to Redondo Beach. I believe the Redondo house cost them $10,000. It was on a cul-de-sac near the beach. It was kind of tight since my Dad was only making about 5 grand a year. Mom stayed at home.

Myself, I have owned at least one home continuously since I was 18. Recently, I sold my home in June of 2007. I am renting for the first time in my adult life. We live in a very nice place with a view and a pool and pay $3150 a month. Our nice landlord is subsidizing our stay. My thinking is that a person can either rent a home or rent the money to buy a home. For the next 5 years I am going to let someone else rent the money, worry about the repairs and fret about the economy. I am going to lay by the pool.

By: Seth

Seth — Fri, 12 Oct 2007 00:51:30 +0000

I live near Hawthorne, and I can tell you that this picture doesn’t do the home justice — it’s MUCH worse. Talk about feeling like you’re going to get gunned down any minute. This pricing is absolute madness. If the bank owns this one, how long before they realize that the market cannot bear this insanity? How many months of carrying costs are they going to absorb before dropping this turkey? We should start a pool — then at least someone will be making money off this home ;).

–S