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Survey Reveals: Rich People Like to Buy Houses in the Hills

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When it comes to luxury houses, ocean views and waterfront houses are out, hilltops are in, according to a survey of California buyers who spent a million dollars or more on their houses in 2013. (And nearly a fifth of houses in the Los Angeles metro area are asking more than a million dollars.) The survey, appearing in the Daily Breeze, found that 41 percent of "luxury" owners bought a hilltop house with a view, but only 10 percent bought oceanfront homes. (There's a good chance those are still prohibitively pricey for people with only a million dollars or more to spend; there are also probably a lot fewer of them.) The survey also showed that 71 percent of high-priced buyers expect that housing prices will go up in a year, which is a safe bet, judging from the uptick we've already seen. Only 36 percent of "traditional" buyers (not-rich people?) responded that they expected housing prices to head upward—wishful thinking?
· Survey: Homes on hilltops are favored over oceanfront [DB]
· Nearly a Fifth of LA Homes For Sale Are More Than $1 Million [Curbed LA]