Comments on: Record deal may be washing away on Malibu’s Billionaire’s Beach.

By: Drew

Drew — Tue, 01 Apr 2008 07:39:36 +0000

Yak,
no backyard?? it has the beach and the pacific… i think you can let go of the yard//

By: Malibu_lover

Malibu_lover — Wed, 19 Mar 2008 02:27:33 +0000

With the $62mil price tag what you are seeing is an absolute separation of the Wealty and the Ultra High net worth. I’m sorry but celebs come and go, and even then there are only a few that could afford that price anyway. Carbon beach is for titans of industry now only, founders of companies and products that are household names, mega deal makers, monster speculators, etc. I can see 62 fly for that lot and on that beach.

By: Yak

Yak — Fri, 07 Mar 2008 22:06:19 +0000

Uh, what’s your point? I wasn’t asking the buyer for money so why would I want to give mine away? And if I ever get an inheritance I certainly wouldn’t give it away because I know the value of it, unlike the potential buyer of the above mentioned house at the stated price who would most certainly be giving his money away, inherited or otherwise.
People pay more for things than they are worth everyday, it’s the basis of a market economy. It’s when they overpay that problems begin. Check out the condo crisis in Miami for an example.
I guess my point was that if someone really works hard for their money, they don’t usually piss it away by overpaying for things.
That house is not worth $62 Mil and probably never will be and if someone actual paid or pays that much for it they don’t know the value of money for any number of reasons.
If you put that $62 Mil in the bank at a conservative 5% you could make 3.1 Mil a year. You could rent that house for $250,000/mth and still pocket money on the principal. Is that house going to go up in value 3.1 Mil year after year forever? Nope.

By: Yak

Yak — Fri, 07 Mar 2008 01:00:55 +0000

That place can’t be worth $62,000,000. No yard, no privacy and on a busy street? Give me a break. People have too much money that they obviously haven’t worked for.