Uber Co-Founder Buys Record-Breaking LA Mansion $72.5m, As Drivers Fight for Wages, LA Homelessness
Uber co-founder buys record-breaking LA mansion for $72.5m as drivers fight for wages. Los Angeles sees a spike in the homelessness population while homes the size of football fields are selling for more than $100m. The Guardian, 7/2/19.
Two massive luxury real estate deals in Los Angeles have shone a harsh light on the wealth gap in a region where tens of thousands of people live on the streets while mansions the size of football fields sell for more than $100m.
On Monday, Variety reported that the Uber co-founder Garrett Camp and his partner Eliza Nguyen have purchased a Beverly Hills mansion for a record-breaking $72.5m, in what is believed to be the largest-ever sale of a home in the neighborhood.
It wasn’t even the biggest Los Angeles luxury real estate deal reported this week. A 56,500-square-foot Holmby Hills chateau, once home to television producer Aaron Spelling, sold for $120m, according to the Los Angeles Times, making it the highest home price in Los Angeles county history.
The extraordinary mega-mansion sales come at a time when Los Angeles is faced with widening inequality and escalating concerns about the housing crisis and a dramatic rise in homelessness, prompting intense debate about who gets to benefit from the growing economy. The Holmby Hills property, known as the Manor, is 4.7 acres and is considered the largest single-family home in Los Angeles...More.
https://www.theguardian.com/us-news/2019/jul/02/los-angeles-mansion-sales-homelessness-increase
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