The most expensive home in America is slated to go on sale in mid-2018. It measures 100,000 square feet and is said to boast an asking price of $500 million. The developer declares, “This entire house is about excess.” The mansion, located in the heart of Los Angeles’s Platinum Triangle, calls to mind the Gilded Age with its 20 bedrooms, nightclub and four pools. Nearby in Bel-Air, a spec home is listed for $250 million.
Sometimes society views housing as a utilitarian good, and at other times it views housing as an investment asset. What makes the difference?
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