Saturday, July 14, 2007

real estate and living: LA vs. Paris

I found a very interesting article in the NY Times about an LA woman who has a pied-a-terre in Paris. It's not very big and not well placed in the building (lousy views) but it was affordable, is an income property (rentable to short-term expat Americans) and provides a place to land in the times she goes to Paris from LA to stay for awhile.

I look at it also as a hedge against the outrageous and out of control real estate market here in L.A. That is, LA's RE market is still vastly overpriced, and quite unstable. And the US - both the real estate market and as a place to live - is (I believe) increasingly untenable. That's not something I ever would have told my dad when he was here, but I'll say it here. (Since nobody reads this but the bots anyway, it doesn't matter. )

When M. goes back this September I'm going to have her check the prices and we'll consider buying something there as a place to go to in case we might have to go back for any reason. I'd certainly miss the climate and the geography here, but it's weird to think that Paris is a more affordable city to live than the huge city of Los Angeles.

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