The super-rich’s real estate choices show that sprawling lands and giant estates are still symbolic of the American Dream. But in Los Angeles, a well-known mansion metropolis, tastes are shifting as space becomes scarcer and luxury condos become more prevalent, Alexei Barrionuevo says in The New York Times. The lifestyle transition, while only in its early stages, is a change worth noting as developers continue to fill out the urban shoreline and demand increases. Right now it’s estimated there are approximately 1,000 individual condos selling for more than $1,000 a square foot or more in the area, all clustered in a half-dozen developments, Barrionuevo says. The selling price, while probably shocking to many, is actually considered a steal for the uber wealthy. “The most expensive condos,” Barrionuevo writes, “are still a bargain compared with places in Manhattan.”
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