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Champagne Wishes and Caviar Dreams
The real estate market may be taking a beating in the rest of the country, but if you're looking to buy your new home in the 90210 zip code, you better bring your real estate agent and your acting coach.
Local brokers say the mega-rich still want their mega-homes, and that there are currently more than 20 20,000+ square-foot homes in the works in Los Angeles's "platinum triangle," an area that includes Beverly Hills, Bel-Air and Holmby Hills. These massive mansions include everything from bowling alleys to gift-wrapping rooms. Could it be that people are still willing to pay big bucks because they're feeling the allure of Tinseltown? Ever since the Clampetts took root in Beverly Hills, starry-eyed hopefuls have been relocating to the area in hopes of striking their own symbolic oil. Hey, even Will Smith came from West Philadelphia to live with Aunt Viv and Uncle Phil.
These fictional characters may have made some of us believe that the grass is always greener in Southern California, but don't forget about the beauty that exists in your own backyard. For the price those guys are paying for their mansions, you could probably buy a neighborhood for your entire family. [Los Angeles Times]