$400,000 for a trailer home?

[dd74]

That's right. In today's (4/11) L.A. Times "California" section, there was an article about a couple who bought a double-wide trailer home in Westlake Village, CA for $400,000. The story's inside pic. was of a Bentley driving down the street, flanked by such near-half-million dollar double wides.

IMHO: ludicrous.

[Porsche-O-Phile]

Welcome to California - home of the most ridiculous housing market in the world. . .

If you ain't a millionaire, don't bother looking.

[dd74]

Oh, and better yet: Oxnard. An agricultural community mostly - well, condominiums are being developed there for nothing less than $500,000.

A $500,000 condo with a view of a lettuce patch? Oh c'mon!

[Porsche-O-Phile]

I tell you, once you just accept the fact you're going to be in a "rental rut" forever, life actually gets a little more enjoyable. Rather than bother to save for a house we'll never be able to afford, my wife & I are saving for a 911

She just doesn't know it yet.

Interesting how things come full circle though - during the dark ages it was always the property owners that had any rights, the rest of the serfs lived on the land of the local lord and were peasants. Seems like our "enlightened" modern society is heading the exact same direction.

[RickM]

Originally posted by Porsche-O-Phile
Welcome to California - home of the most ridiculous housing market in the world. . .

If you ain't a millionaire, don't bother looking.

It aint just California.

[jbryant]

NVA is the same.

[vash]

i saw a show about you folks in SoCal. apparently there is some trailer park in Malibu, where the mobile homes are high dollar! i dont remember the prices, but movie stars and musicians live there. some dude is getting rich modifying the homes to superhighend levels. the price to live by the water! is westlake village in malibu? or is this another?

[dd74]

Unfixed: there are two trailer home parks right off PCH. One in South Malibu below Big Rock and another near Paradise Cove. The one near Paradise Cove went up in flames in the early-80s during one of Malibu's wildfires. I think about 50 homes at least were lost - I guess they're not as "mobile" as one would want in an emergency.

Since then, more homes have been built, and they are always some for sale. I haven't looked at the prices though. Sometimes I don't need to laugh that hard...

[tabs]

I'm gona be hearin the Blues come January....when the Fed raises interest rates...and your gona hear a big POPing sound....as the housing ballon bursts....

[JavaBrewer]

When the rates go up CA will not be alone in a value "correction". Last I remember you were posting links to LV homes for $500K+. When APR's hit 8%+ living in the desert won't be so trendy. At least I'll still be having BBQ's in a polo shirt and shorts come January.

Back on thead, a $400K trailer home is a joke unless you are getting ocean front/view property to the tune of 8K sq/ft or more cause the actual structure is worthless.

[tabs]

A correction for LV yes a collapse in prices like CA NO...

1...All those SNow Birds still will be comin here to get away from the snow...and they bring MONEY...CA is too expensive for them

2...CA is driving business away and it's coming to Nevada

3... No state Income tax

4. Lower cost of living

5...No state fiscal crisis...CA could very well go BK

[vash]

Originally posted by tabs
I'm gona be hearin the Blues come January....when the Fed raises interest rates...and your gona hear a big POPing sound....as the housing ballon bursts....

tabs that popping sound you will hear is the threads holding your pants button on giving up. you love spreading misery. you only want california to go belly up so you can have some more people miserable like yourself.

lonely is an eyesore.

[Porsche-O-Phile]

I'd LOVE to see the mandatory re-assessment initiative pass and become law here, I think that would drop prices quite a bit as people try to get of their severely under-appraised properties. Combine that with a raise in rates and it could help the overall situation rather nicely - creating more "movement" in the market which has really ground to a halt for all but the weathiest members of society.

Personally, I WANT the bubble to pop! If it does and there are some foreclosures maybe "real" people can start affording their own places here again. It just kills me every time I hear that Salle Mae commercial on the radio that says "the American Dream is the most powerful economic motivator in the country" and "we're here for you", yet by their own actions, they make the "American Dream" available only to the extremely well-off (unless you want to live in a ghetto - and even THOSE houses are well over the $250-$300K mark now). What a joke!

[techweenie]

Try $799K in Malibu for a mobile home.

And I think the space rents for $2500 a month -- which is non-deductible.

[turbo6bar]

A spike in mortgage rates has caused homebuilder stocks to take a big hit. They could still recover, but there is a tiny chink in the armor. Considering the armor has been wearing like Titanium for the past 10+ years, a chink is definitely a warning sign...
jürgen

[slakjaw]

I live in a trailer its sweet but i only paid 30,000 for mine and there arnt any bentleys.

There is a Cobra replica though

[campbellcj]

Originally posted by dd74
there are two trailer home parks right off PCH. One in South Malibu below Big Rock

Coincidentally I saw an "amazon blonde" pull out of there this morning in a Jag XK8.

It's gotta be the lowest turnover trailer park around. I guess some people will do anything for an ocean view...even live in a megabuck trailer a few feet above a major 4-lane highway

[Nader]

Mel Gibson's character in "Lethal Weapon" lived in a mobile home on the beach, with no neighbors. I doubt he paid $400K for that setup, being on a rogue cop's salary. But then it got all shot up by some guys in helicopters. Maybe that's why he didn't have any neighbors.

[on-ramp]

let the suckers keep buying these crazy homes...

one day they will get screwed big time when the market collapses.