Why Do Millionaires Like Los Angeles? (Pasadena, Santa Monica: low income, homes, neighborhood)

[majoun]

Originally Posted by JerZ

This is someone's primary residence--the place a very rich person wants to spend the majority of his or her time? The link was bad so I couldn't read the article. This is in a dangerous area? Has this property already been purchased? Is this the typical penthouse in this area? If the answers are all yes, then you tell me. Why *would* someone electively live there? That was the original question of the post. You must have some ideas, no?

According to the ad, most of the units had been purchased.
As I stated before, someone from NYC might want to live there to try to recapture the "urban feeling" of Manhattan.
And yes, I'd consider it a dangerous area.

[JerZ]

Originally Posted by majoun

Millionaires often aren't too revealing about where they live. If I was a millionaire living downtown I wouldn't want it to be known. But these buildings have been going up for the last several years.

Even back in 2000 there were already millionaires checking out downtown:
[link]http://www.findarticles.com/p/articles/mi_m5072/is_28_22/ai_63604007[/link]

So then again...you're assuming. You're assuming very rich people want to live in dangerous areas of LA the majority of their time. You don't have facts to back this up since conveniently, you now intimate that millionaires hide where they live. Okay, I can't argue that one since there are no actual facts present. I'll ask you a question now. If you were THAT rich, you'd electively make your *primary residence* (remember the "complainers" here are FULL TIME residents of wherever they can earn their living) in a dangerous area? Again...why?

Also, referring back to the OP that started all these questions...the poster thinks we non-millionaires are complainers, without much to back the complaints up. Perhaps if we were able to afford a 3.6 million freakin' dollar penthouse to live in or not as we please we might not have as many complaints. I DO NOT buy that a person who can afford *three and a half million dollars* on a house saunters down the street to the "bad areas" to buy his own groceries. I mean...are you guys kidding?

So where is the comparison between us silly complainers and these unbelievably ultra-rich people?

[JerZ]

Originally Posted by majoun

According to the ad, most of the units had been purchased.
As I stated before, someone from NYC might want to live there to try to recapture the "urban feeling" of Manhattan.
And yes, I'd consider it a dangerous area.

I am from 15 milies outside of Manhattan and LA in no way, shape or form has a Midtown feel.

And here we have another assumption...the theory now is that these are people from New York??????

Not to mention the fact that someone who is THAT rich and from Manhattan could surely travel back to Manhattan and would in no way be forced to live in a dangerous area in order to recapture the feel. He'd just hop on a plane and go to it. I mean seriously.

Going to bed now.

[majoun]

Originally Posted by JerZ

So then again...you're assuming. You're assuming very rich people want to live in dangerous areas of LA the majority of their time. You don't have facts to back this up since conveniently, you now intimate that millionaires hide where they live. Okay, I can't argue that one since there are no actual facts present. I'll ask you a question now. If you were THAT rich, you'd electively make your *primary residence* (remember the "complainers" here are FULL TIME residents of wherever they can earn their living) in a dangerous area? Again...why?

Also, referring back to the OP that started all these questions...the poster thinks we non-millionaires are complainers, without much to back the complaints up. Perhaps if we were able to afford a 3.6 million freakin' dollar penthouse to live in or not as we please we might not have as many complaints. I DO NOT buy that a person who can afford *three and a half million dollars* on a house saunters down the street to the "bad areas" to buy his own groceries. I mean...are you guys kidding?

So where is the comparison between us silly complainers and these unbelievably ultra-rich people?

I'm not assuming. Did you read that article I just linked to? That actually did give hard facts.

If I had that much money I wouldn't live in downtown LA, but everyone has their own reasons for doing what they do. I'm not trying to prove anything, you might think I am, but I'm not.

I would assume that people who live in a penthouse downtown probably get everything delivered to them, but inevitably they're going to go on the street below.

The OP was saying that LA gets an unfairly bad rap, it does have its problems and many of those problems are quite severe but its good aspects still outweigh its bad aspects, even though less so than in the past. LA is not Detroit....yet.

[newportbeachsmostwanted]

WHY THE HECK WOULDN'T MILLIONAIRES LIKE L.A.?! I mean Larry King just bought a home here! He has no connection or need to be in L.A. what-so-ever! (CNN=Atlanta.) alright..The middle class see's a much MUCH different L.A. than Larry King!

To start you have a year-round perfect climate, you have city and ocean views, you have a gated home with lush landscaping, you have acreage, you have access to the Beverly Hills Highlife, the Hollywood scene, Malibu beach house... Very importantly, L.A. has the worlds biggest inventory of large city estates! You won't get this type of livin in Manhattan!!

[Dingler]

LA area is great if you have money. There are many neighborhoods for rich people and they are secluded from the problems facing the typical Southern CA residents. In Southern CA there is so many places of beauty and opportunities to live well. Strict Police and gates hide many of LA's problems from residents of Beverly Hills and other elite towns.

Where Southern CA faces problems is the spread of decay into previously middle class neighborhoods. Also the spread of problems in Blue Collar Lower middle class neighborhoods that use to be fine but now have been taken over by MS13.

[newportbeachsmostwanted]

Originally Posted by Dingler

Where Southern CA faces problems is the spread of decay into previously middle class neighborhoods. Also the spread of problems in Blue Collar Lower middle class neighborhoods that use to be fine but now have been taken over by MS13.

I don't see those damn illegals taking over 90210 anytime soon..

[Roma]

The people on this board who are always bashing and whining about California are just disgruntle. They all seem to rent and they all seem to not be able to move up in life. They all seem to have lousy jobs and lives.
California is a beautiful, wonderful place to live. It has soooo much to offer.
I even heard that their are more Billionaires living in LA then anywhere else in the world.
Hmmmmm......I wonder why billionaires and millionaires love LA? I wonder why the blue collar and poor don't love LA? Doesn't take a rocket scientist to figure this one out.

[miracle]

Originally Posted by TheRealAngelion

LA County is home to more millionaires than any other county in the United States with a whopping 262,800 millionaire households! (and this does not include the value of one's primary residence)

http://money.cnn.com/2006/03/28/news.../millionaires/

If LA is as bad, dangerous, and gang infested as some people on this forum claim, why do the most financially successful and affuent in the land continue to call LA home?

1. -Zip Code. Money calls to money and is very cool live in a worldwide known area such as Beverly Hills, Bel Air, Malibu, Brentwood, Hollywood Hills, Pacific Palisades, Santa Monica....., what people outside here use to name as "Hollywood", the concept, not the place.

2. - Weather, beaches....You can own an industry in Ohio but is better expend it in Southern California.

3. - Urban sprawl. You can enjoy a high privacy in many areas of Los Angeles, enjoy of a wonderful calm in a mansion in Bel Air or in Malibu while if you want that same in New York you must go miles away to Long Island or Connecticut....

[LivingLikeAGradStudent]

It's not just cachet, the name, that appeals to many well-off people. In my field, L.A. is the one of the top destinations in the country. Entertainment lawyers, sports stars, performers, real-estate developers ... lots of professional occupations have high numbers in the area, and many are rich or near-rich. Most upscale (non-suburban) areas of L.A. are within a few miles of questionable areas, so it's not really a choice to live away from certain elements. Embrace them and enjoy the sunshine.