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David Lynch LA House

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141–142 of 142 posts

Re: David Lynch LA House

#141
post #47

Earlier quoted context omitted.

Do you have generational wealth? Seems like a paradise out there..

One of the oddities of California is that you frequently see shabby, cheaply constructed houses of no significance selling for millions of dollars. That is because some mid-century developer built it as middle-class housing. A middle-class family moved in and had kids. They continued to live there while property values soared. So the kids grew up in neighborhood where all the houses cost millions of dollars. I used t…

Really appreciate the thoughtful response and made me see things in a different light. Cheers.

Re: David Lynch LA House

#142

Earlier quoted context omitted.

He apparently was cash poor and asset rich. Now the opposite is true for his children.

Assets can be easily converted into cash by borrowing against them.

This has the added disadvantage that you will have to pay back this loan with interest. Not everybody can.
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