LA Observed alerts us to the story in the Business Journal that has found once middle-class neighborhoods in Tarzana and Glendale, among others, now boasting a median home price of $1 million-plus.
In fact, the notion of a million-dollar home as a psychological barrier has all but disappeared, especially now that the median price of a home in L.A. County has topped a half-million dollars.
?The million-dollar home used to be huge. Now it?s nothing anymore,? said Susan Barber, a residential real estate agent with Simi Valley-based Realty Executive Professionals. ?Middle-class professionals are buying million-dollar homes all over L.A.?
And the spinning wheel of real estate madness continues to spin. Hang on.
· Million-Dollar Sales of L.A. Homes Rise at Remarkable Pace [LA Business Journal]
· Million-Dollar babies [LA Observed]
· Southern California Home Resale Activity [DataQuick]