Originally Posted by SaMaster14
Where I live, there are apartments that start at $5million, where the penthouse could be up to $30million.
Also, second home? My godfather has a condo/appartment in Newport Beach (CA) which is a 3rd residence. Place is filled with Bentleys, Rolls, Ferraris, BMWs, Mercs, etc etc.
Also, there are people who are just crazy about cars. Really don't have their priorities straight. Will buy/lease a $450k car... but end up barely able to make rent/living/food payments.
When I was down in SoCal, I couldn't help but notice the extreme amount of debt people had piled on.
I hope they realize it does need to be repaid at some point. It'll be interesting to see where California is headed in the next 20 years.