There is a wave of development in los angeles luxury markets thats been happening since 2014, and that wave is causing some crashes. · they say the colloquial square footage horse has already left the barn, adding the caveat that the typical american home size has increased by 150% between 1980 and 2018. Several of these spec mega mansions are in los. · the work of speculative developers caught buyers’ eyes with the two largest homes to go into contract last week representing new builds. · empty parcels of land all over los angeles’ s poshest neighborhoods are being transformed into lavish mansions with price tags in the tens, or even hundreds, of millions. · the prices of mega - mansions are being slashed across los angeles, thanks to lower demand, the mansion tax, and anti-development ordinances. Some other choice takeaways include paul goldberger telling a hamptons community meeting in may: · however, a handful of ambitious developers are forging ahead building some of the most expensive and enormous homes in the country. · a review of the los angeles multiple listings service shows close to 100 homes on the market asking over $20 million in los angeles county, at least 35 of which could be classified as spec homes , and more are under construction. We want to be east hampton, not levittown-by-the-sea.
