The nation’s fastest-growing cities are nearly all in the South.
For the second year in a row, Georgetown, TX, a suburb about 30 miles north of Austin, experienced the most growth. Its population ballooned by about 14.4%, according to a recent U.S. Census Bureau report. The bureau looked at population growth between July 1, 2021, and July 1, 2022, in cities with at least 50,000 residents to come up with its list.
The median home list price in Georgetown was $525,000 in April, according to Realtor.com® data. That’s about $175,000 less than the $700,000 price tag in Austin. Plus, there are homes available in Georgetown. More than half of the homes in the suburb listed on Realtor.com are new construction.
The city is known as the “Red Poppy” capital of Texas for the flowers planted all over the city and hosts a red poppy festival every April to celebrate its nickname. It is also home to Southwestern University.
“Austin got so much more expensive that people flocked to the suburbs because they were somewhat less expensive,” says Gary Maler, executive director of the Texas Real Estate Research Center at Texas A&M University in College Station, TX. “There is just a lot of construction. … We haven’t been able to build it fast enough.”
Eight of the 10 fastest-growing cities were in the South: four in Texas (three suburbs of Austin and one outside of Dallas), three cities in Florida, and one in Arizona about 45 minutes east of Phoenix. All of the cities, except Santa Cruz, CA, boast significant numbers of newly constructed homes. That additional housing is likely to have helped many of these places attract new residents.
“Jobs in Texas outpace many other states. There’s a pro-business attitude in Texas. There’s a variety of cultures and sceneries in Texas. We have relatively lower costs than other states, although we’re starting to lose that,” says Maler.
However, the fastest-growing cities weren’t the largest. New York City with its 8.3 million residents, Los Angeles with nearly 4 million residents, and Chicago with about 2.7 million residents were the largest cities in the nation,
The 10 fastest-growing cities
Georgetown, TX Median home list price: $525,000
Santa Cruz, CA Median home list price: $1,924,000
Kyle, TX Median home list price: $400,000
Leander, TX Median home list price: $550,000
Little Elm, TX Median home list price: $505,000
Westfield, IN Median home list price: $570,000
Queen Creek, AZ Median home list price: $682,500
North Port, FL Median home list price: $399,000
Cape Coral, FL Median home list price: $515,000
Port St. Lucie, FL Median home list price: $450,000
As landlords struggle to get people back into office buildings that emptied during the pandemic, some are turning to entertainment and other enticements such as yoga classes to woo wary workers.
At the Water Garden office complex in Santa Monica, a dance troupe has taken up residence and puts on free performances and classes for kids. Flower arranging classes are packed and the weekly tenants-only comedy show after work is a hot ticket. Musical performances by local artists are a lunchtime draw.
Farmers markets, concerts, art shows and other attractions for office tenants aren’t completely new, but they have taken on urgency as landlords and executives of companies occupying their buildings strive to get workers enthused about showing up.Some property owners are hiring “tenant experience managers.”
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In most commercial buildings, only about half the workers show up at their offices on weekdays, key-card swipes reveal. Office leasing is also weak: Space rentals declined again last quarter to bring the overall total of unleased space in Los Angeles County to nearly 20%, well above the 12% rate before the pandemic.
To get workers in the office, “you need to find new ways to engage people,” said Bess Wyrick, head of programming at the Water Garden for property manager CBRE.
Stefany Silva, left, Kimberly Fuentes, Jennifer Sandoval and Nicolette Battad learn how to make floral arrangements at the Water Garden office complex in Santa Monica on Dec. 8.
(Genaro Molina / Los Angeles Times)
With daily office attendance not mandatory at many companies, “It’s no longer about trying to create a work-lifestyle balance,” she said. “It’s about creating a hybrid workplace where people are excited to come.”
Hybrid work patterns have spread widely since the pandemic shutdown of 2020. As companies bring workers back together, many have reduced the number of days their employees are required to be in the office, creating flexible combinations of office days and remote work days.
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Cosmetic company L’Oréal Group demands that employees work in the office at least three times a week, on days of their choosing. L’Oréal sweetens the office experience with such comforts as a fitness center, restaurant, juice cafe and a cabana-like bar that serves coffee drinks and, depending on the occasion, alcohol.
Disney Chief Executive Bob Iger recently announced that employees working from home must return to the office Monday through Thursday starting March 1. Fridays are typically the least populated days for offices, research shows, and while most employees toil at home that day, a few companies are taking them off the business calendar altogether and working 32 hours a week.
Guy Blanco of Dirty Latte Co. prepares coffee for workers at the Water Garden complex in Santa Monica last month.
(Genaro Molina / Los Angeles Times)
Landlords are also keen to make offices appealing so tenants will keep renting space in their buildings.
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The campus-like Water Garden was a dreary place after being devoid of occupants during the worst of the pandemic, Wyrick said. While they were gone, nearby businesses and restaurants nearby failed or left for other reasons.
“The area was a ghost town,” she said.
Wyrick’s first move was to arrange live performances by local musicians and dancers in the courtyard. Among the complex’s biggest tenants are retailer Amazon and technology firm Oracle.
One of Wyrick’s goals was to make the Water Garden a place people wanted to visit, including neighbors who could walk over to take in a mid-day concert or see pieces by local artists displayed and for sale in the lobbies of the four office buildings. Getting a buzz of life into the campus could help address a common chicken-and-egg complaint about going back to the office — people don’t want to go there if other people aren’t around.
Paying performers to appear, serving free food to tenants at holiday soirees and other planned events are part of a marketing strategy to get the property occupied, she said.
“We will lose money in the beginning,” she said, “but it drives people to put roots in the space.”
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The key measure of success is leasing, and Water Garden has added tenants over the past 12 months. Its 1.4 million square feet of rental space is 86% leased, up from 72% leased a year ago, Wyrick said.
Harpist Pheobe Madison Schrafft plays for workers on a lunch break at the Water Garden office complex in Santa Monica.
(Genaro Molina / Los Angeles Times)
One of her leaps to enliven the place was to agree to an unusually short lease with a well-known dance company for an expansive first-floor space last occupied by a furniture showroom. In exchange, Jacob Jonas The Company agreed to engage with other tenants through free classes, performances and other events.
The nonprofit dance company has performed at Lincoln Center, the Kennedy Center and the Hollywood Bowl, as well as with such musical artists as Rosalia, Sia, Elton John and Britney Spears.
For years, the company was based in the Wallace Annenberg Center for the Performing Arts in Beverly Hills. The chance to dance in a working office complex built to the buttoned-down tastes of 1990s business executives holds special appeal to company founder Jacob Jonas, a Santa Monica native who got his start as a street performer on the Venice boardwalk at age 13.
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“Our neighbors are some of the leading corporations in our country. There’s something really validating about that and sharing our work,” he said. “When you have people working behind a desk from 9 to 5 and then being able to expose them to creativity and expose them to art in such a unique setting, that crossover is rather beautiful.”
Workers and visitors at the Water Garden can take workshops in floral design, see weekly comedy shows and attend movie nights.
Garryl Bohanon gets some work done near a Hanukkah display in the courtyard of the Water Garden office complex in Santa Monica on Dec. 8.
(Genaro Molina / Los Angeles Times)
Nearly a fifth of the L.A. County’s office space was unleased at the end of last year, according to CBRE, and more empty space may hit the market soon as tenants hoping to save money try to sublease unwanted space due to concerns of a constricting economy and potential layoffs. Some are reducing their space because their employees are working remotely.
“The general consensus among most economists is we’re heading into a recession,” said Bradford Ortlund, a research manager at CBRE. Many companies are declining to expand their offices or reducing space as they wait for the economic picture to come into focus.
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The nature of upmarket offices was already shifting before the pandemic as many landlords toned down the dramatic formality of their entrances originally intended to confer status and trustworthiness on the companies inside. As aloofness fell out of favor, owners set out to make their lobbies and courtyards places to linger and enjoy rather than simply pass through in awe.
Their desire to get people working remotely back into offices makes hotel-like hospitality freshly valuable, said the owners of U.S. Bank Tower, the tallest office building in Los Angeles at 72 stories.
It was built to be an imposing corporate cathedral in 1989, but landlord Silverstein Properties is close to completing a $60-million makeover intended to make it feel more like a laid-back hotel where tenants and visitors are invited to kick back. The lobby will include a cocktail and juice bar, a coffee bar, a grab-and-go market of packaged foods, communal tables, a large lounge with plush seating and cabanas to add a resort flair.
Staff will focus on hospitality, said tenant experience manager Melanie Navas. People’s names and birthdays are to be remembered. The 54th floor is a tenants-only lounge with a coffee bar and weekly breakfast spreads to help inspire a sense of community. There are yoga classes at the gym on the 57th floor with views of the city.
“The goal is to get people to feel like they want to come back to work and come back to the building,” she and, “and having them leave happy.”
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Art is a top priority for Brookfield Properties, the largest owner of office space in downtown Los Angeles, which has a longstanding program of engagement with tenants. Permanent and rotating art displays are pleasant — and good for occupancy, said Bert Dezzutti, head of the western region for Brookfield.
Workers are framed by a holiday lobby display inside the Water Garden office complex in Santa Monica.
(Genaro Molina / Los Angeles Times)
“Younger workers are more likely to return to the office if they are around art,” he said, citing a survey Brookfield commissioned in the United Kingdom last year that also found that art and cultural activities improve people’s sense of wellbeing and makes them more productive at the office.
“One positive that has emerged from the tragedy of the COVID-19 pandemic is a new focus on what makes a ‘happy’ workplace,” the survey report said. Findings suggest that workers want to work in spaces enriched by art, culture and wellness, which they believe promote creativity and contentment.
“The offices of the future must be more than machines for working in,” the report said, “they must cater to the rich inner life that we all possess.”
One youth-friendly program Brookfield puts on in L.A. is an annual music festival that follows the Coachella Valley Music and Arts Festival. Acts from the popular desert concert series appear after work on four August nights at a Brookfield office and retail complex near Crypto.com Arena.
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Musicians from the Colburn School perform acoustic sets at another Brookfield property. There are DJ concerts open to all and wellness events for tenants that include skin care classes and meditative sound baths.
“We’re creating opportunities for people to interact,” Dezzutti said. “It’s all about engagement.”
Christmas movies are more than entertainment — they can offer financial lessons, too. The Grinch reminds us that expensive things aren’t everything, while Ebenezer Scrooge proves spending and sharing money is often a good thing. And if you learn anything from Home Alone, it’s the importance of security and insurance.
Ahh, the holidays.
There’s nothing better when it’s snowing outside than having a cozy night in, re-watching countless reruns of your favorite holiday movies. 🎥🎄
You love them all — the classics, the rom-coms, the are-they-even-Christmas-movies. (And yes, they are). There’s something undeniably nostalgic and magical about seeing these holiday stories brought to life — even for the hundredth time.
Yes, there are lots of jingle bells, mistletoe kisses, and sparkly snowfalls. But along with the holiday clichés, these Christmas movies might even offer some practical financial lessons. 🤑
Not sure what we’re talking about? Grab your bowl of popcorn and your coziest blanket — and let’s dive into 10 of our favorite holiday movies and the financial lessons you can learn from each. 🍿
1. How the Grinch Stole Christmas
Let’s start with a classic: a story about the grouchy green monster who lives on Mt. Crumpit. Annoyed by the holiday cheer, the Grinch attempts to “steal” Christmas from the residents of Whoville. You know the rest — after sneaking into all the Who’s houses to take every Christmas gift in sight, the Grinch expects the town to mourn the loss of their beloved holiday.
Instead, he hears them singing and celebrating the next morning — even without their presents. The Grinch learns that it isn’t expensive gifts that matter at Christmas. Instead, it’s the people and community you celebrate with.
💸 Financial lesson: You don’t have to give or receive expensive gifts to celebrate the holidays.
Old Ebenezer Scrooge has come to life many times through countless film adaptations of Charles Dickens’ story — because it truly never gets old.
Scrooge is a grumpy, greedy, and selfish old man with a reputation for his tight-fisted ways. He refuses holiday invitations and unwillingly gives his employee, Bob Cratchit, a single day off for the Christmas holiday.
It’s not until being visited by three ghosts on Christmas Eve that he understands the tragic reality of the life he’s been living — and the dark future that awaits if he doesn’t change his ways.
With a new perspective, greedy Scrooge finally loosens the purse strings. He wakes up Christmas morning and immediately sends an expensive Christmas turkey to the Cratchit family, later offering the hardworking Mr. Cratchit a raise. He also celebrates the holiday with his long-neglected nephew, who’s grateful to have his uncle around at last.
💸 Financial lesson: Saving is important, but so is spending money on experiences, things, and gifts that bring value to your life and others’.
Read more: When it’s okay to spend money
3. It’s a Wonderful Life
It’s a Wonderful Life depicts the selfless life of George Bailey — from the time he was a kid until he takes over the family Building and Loan business. Soon after their wedding, George and his wife Mary witness a run on the bank. The couple loans out their honeymoon money to keep their customers afloat.
Over the years, George continues to give himself to his community, sacrificing his goals and dreams to serve his neighbors and friends. But when a misplaced check leads George to fear his arrest and his business’s downfall, he loses all hope and contemplates ending his life.
With the help of the angel Clarence, George soon realizes he’s got a family and community who love him. Meanwhile, Mary makes up the lost money through generous donations from friends and neighbors. Try to make it through the final scene without crying, I dare you. 😢
💸 Financial lesson: If you’re struggling financially, there are resources and people who can help.
4. National Lampoon’s Christmas Vacation
What’s the holiday season without the Griswold family’s hijinks?
Determined to have a wonderful Christmas, Clark Griswold takes the holiday spirit seriously, harvesting an enormous Christmas tree and decking out his house in a blinding display of lights. But as you might expect, things don’t go as planned — especially when the inlaws show up.
With the financial pressure of giving his family an incredible Christmas — plus the added burden of hosting his relatives — Clark desperately awaits the arrival of his Christmas bonus check. To Clark’s dismay, the bonus doesn’t arrive. Until, that is — in a state of fury — Clark confronts his boss about it. In the end, it’s a happy, if unconventional, Christmas.
💸 Financial lesson: Don’t spend beyond your means, even with the stress and pressure of the holidays.
5. The Holiday
The Holiday is a good old rom-com with a holiday twist. Two women on opposite sides of the world are equally unhappy with their love lives as the holidays approach. Trying to escape their respective lives for Christmas, the women meet on a house-swapping website and decide to trade homes for the holidays.
You can guess the rest: In her new surroundings, each woman meets the perfect guy and lives happily ever after-ish — all thanks to a holiday abroad.
💸 Financial lesson: House swapping is a fantastic way to make vacations more affordable.
Read more: Travel hacking 101: A beginner’s guide to travel hacking like a pro
6. Elf
Likely one of the funniest Christmas movies of all time, Elf tells the story of Buddy, a misfit human — raised by elves — as he searches for his biological father in New York City. Hilarity ensues as soon as Buddy reaches the Big Apple, but the financial lessons start in the North Pole.
Surrounded by handy, hard working elves, Buddy grows up doing exactly what’s expected from him: making toys. But it quickly becomes obvious — to Buddy and the elves — that he’s no natural toymaker.
Eventually, Buddy realizes making toys isn’t the right job for him, and he needs to set off in search of something different. First lesson: your initial career may not be the best fit.
Toward the end of the movie, Buddy’s biological dad has to make a tough choice between work and family. He chooses family (it’s a Christmas movie, after all 🧑🎄), and this choice eventually leads him to starting his own business.
💸 Financial lesson: You don’t need to keep a job that makes you unhappy — and you can always strike off on your own.
Read more: How to start your own business — a complete step-by-step guide
7. Die Hard
The only action movie on this classic Christmas list, Die Hard isn’t your typical holiday flick.
On Christmas Eve, New York City Detective John McClane heads to a holiday party at his estranged wife’s Los Angeles office. Instead of holiday festivities and reconciliation, the evening turns into a hostage situation. A group of German radicals seizes the building, and a battle between McClane and the terrorists breaks out.
Where’s the holiday cheer, you ask? Well — *spoiler alert* — the good guys win. It’s Christmas Eve, remember?
And what about the financial lesson? Turns out the bad guys were after bearer bonds — a fixed-income security in the form of a physical certificate. Without registration, bearer bonds belong to whoever has them in their possession. This makes them vulnerable to theft, ideal for money laundering, and the perfect subject of this thrilling holiday film.
💸 Financial lesson: Secure your valuables, and keep your money somewhere safe.
8. Four Christmases
Along with the fun decorations, seasonal treats, and general festivity of the holiday season, this time of year can bring plenty of chores, too. For some, spending your holiday vacation making appearances at numerous parents’ and inlaws’ homes is more of an obligation than a choice.
Some people, like Brad and Kate in Four Christmases, opt to spend Christmas their way by traveling to a faraway, sunny destination. And if you’ve seen this movie and met their families, you know it’s an understandable — even necessary — thing to do.
But Kate and Brad make one big mistake that costs them their trip and instead forces them to spend Christmas day visiting family at four different (and very dysfunctional) households.
Their mistake? Not buying travel insurance.
Yep — after a canceled flight shuts down Kate and Brad’s plans, they spend the holiday making four unpleasant visits instead of relaxing on the beach. Yikes.
💸 Financial lesson: Travel insurance is often worth the cost.
Read more: Is travel insurance worth it?
9. The Preacher’s Wife
The Preacher’s Wife follows the story of Henry, a struggling pastor, trying to make it through the Christmas season. Not only are members of Henry’s congregation coming to him with their own monetary and personal struggles, but the church itself is on rocky financial footing.
With the stress of keeping his congregation afloat, Henry’s marriage starts to disintegrate. It’s not until the arrival of the mysterious angel Dudley that Henry has a change in heart. He starts to understand he can’t do everything — but one thing he must do is be there for his family.
Ultimately, Christmas arrives with a happy ending for both Henry’s congregation and his family.
💸 Financial lesson: Financial stability is important, but don’t let money distract you from other important values.
10. Home Alone
In the original Home Alone, 8-year old Kevin McCallister has to defend his (very large and beautiful) home from burglars after his family accidentally leaves town without him.
Parental mistakes aside, Kevin not only survives — he thrives, booby-trapping his home for the ultimate bad guy takedown. It’s the stuff of (8-year-old) dreams. By the time the police arrive, Kevin has thoroughly destroyed much of his home with tar, glue, feathers, fire, and so much more.
We can learn a lot from Home Alone — aside from not leaving 8-year-olds behind when traveling. But how about taking better measures to secure your gigantic house? Not to mention the importance of buying the right insurance.
💸 Financial lesson: Secure — and insure — your home and valuables.
Summary
That’s a wrap on 10 financial lessons from your favorite Christmas movies. From It’s a Wonderful Life to Home Alone, these stories can teach us valuable lessons about money, such as the importance of investing wisely, saving for a rainy day, and securing our valuables.
We can also learn from the mistakes of others, like not buying travel insurance or taking the right measures to protect our homes. So this holiday season, take a few minutes to give your finances a tune-up with these timeless lessons. Happy holidays!
Save more, spend smarter, and make your money go further
In addition to serving as an important reminder to honor our U.S. war veterans, Memorial Day marks the start of the summer travel season. Whether you’re an adventurer, a creature of habit, or planning your first big family vacation, here are some money saving tips you will want to consider.
Save Up
When planning summer travel, estimate your costs ahead of time for airfare, lodging, and expenses. Set a goal to save a portion every month towards that amount, using an app like Mint to track your progress. The closer you get, the closer that vacation is, and the more excited you and your travel companions will be!
One popular saving method I’ve seen online is the hoarding of five-dollar bills. A Reddit user inspired many with his post and photo captioned: “For the past year, I put away every $5 bill that came into my possession. To date, I’ve saved $3,335.”
Get a Cheaper Flight
Plan ahead: Try to book your flights around three months in advance of your planned date of travel. Finding cheap last minute airfare isn’t impossible, but it’s hard to plan that way.
Low fare alerts: Pick a few destinations you want to visit and set up “low airfare” alerts at sites like Airfare Watchdog or Kayak to be notified when prices drop below your threshold. If you’re not limited to a certain destination, Kayak’s summer travel hacker can help you choose a lower-fare location.
When to buy: If a fare seems too good to be true, BUY IT. I’ve often comparison-shopped for flights, and hesitated to purchase a really good-looking fare, then regretted it when the price went up significantly the very next day. The price-prediction app Hopper will advise you to purchase your flight now or wait because prices might drop.
Avoid Airline Fees
Baggage fees: Avoid the long lines and $25 charge by packing light and flying only with carry-ons. Make sure your carry-on suitcase fits the dimensions allowed by your airline. Avoid stuffing the bag so full that it can’t fit into the bag-size tester. Summer travel often requires less clothing anyway, right?
To make sure you stay comfortable on the flight, a thin scarf – which looks fashionable and keeps the neck warm – can double as a light blanket. Wear your largest pair of shoes and bulkiest clothing on the flight (big jacket doubles as lumbar support!) so they won’t take up as much space in your suitcase.
If you travel to the same destination often (like a relative’s home) consider leaving some toiletries or clothing items like shoes or sweaters at that person’s house. My parents visit us a few times a year and usually travel with one small bag each because they have at least two full outfits in a closet in my house, including shoes!
Food and drink: Travel with an empty reusable water bottle that you fill when you get through security. Bring your own snacks and packable meals so that you don’t get tempted to charge an airline meal to your credit card. The food you pack will likely taste better, anyway. But be kind to your fellow passengers and try to avoid powerful odors like tuna or egg salad or allergens like peanut butter.
How are you saving on summer travel? Let us know in the comments below!
Kim Tracy Prince is a Los Angeles-based writer who has a husband, two little boys, and some serious wanderlust. She’ll be traveling to Connecticut this summer like she does every year.
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Inflation is expected to continue “to decline across all horizons” over the next year while home price growth, too, is projected to decline “sharply” to the lowest level since July 2020, according to the most recent Survey of Consumer Expectations (SCE) released by the Federal Reserve Bank of New York.
The median one-year inflation expectation, the August SCE report shows, fell to 5.7%, down from 6.2% in July. Median home-price growth expectations fell by 1.4 percentage points in August compared with July, to 2.1%, which is the lowest SCE reading since July 2020.
“The decline was broad-based across demographic groups and geographic regions,” the August SCE report states. “Home-price expectations have now fallen by nearly two-thirds since the April 2022 reading of 6.0%.”
The SCE report is based on a nationally representative, internet-based survey of a rotating panel of some 1,300 heads of household. The report’s findings for August echo analysis of home-price data released in July by Black Knight Data & Analytics.
“Annual home-price growth shifted from deceleration to decline in July as the median home price fell 0.77% from June – the largest single-month decline since January 2011…,” Black Knight reported in its July Mortgage Monitor report. “Escalating declines in June and July have total tappable equity down 5% over the past two months, suggesting a sizeable reduction is likely in Q3, which would mark the first quarterly decline in three years.”
The Black Knight report notes that some of the most significant declines in tappable equity are occurring in equity-rich West Coast markets.
How will non-QM perform for the rest of 2022?
With inflation and rising rates, non-QM lending has spent the last few months in choppy waters, with some lenders closing their doors. However, the outlook for non-QM for the rest of 2022 is relatively optimistic, according to Acra Lending CEO Keith Lind.
Presented by: Acra Lending
“From April through July, San Jose lost 20% of its tappable equity,” Black Knight Data & Analytics President Ben Graboske said. “Seattle followed, shedding 18% of tappable equity over that same three-month span.
“Likewise, San Diego (-14%), San Francisco (-14%) and Los Angeles (-10%) have all seen double-digit declines since April.”
The amount of tappable home equity nationally hit $11.5 trillion in the second quarter of this year — after accounting for homeowners retaining at least 20% equity, according to Black Knight.
“With prices continuing to correct and our … HELOC data showing home-equity lending at its highest level in 12 years, we will keep a very close eye on equity positions in the coming months,” Black Knight’s July Mortgage Monitor report states.
Goldman Sachs, in a recent white paper titled “The Housing Downturn: Further to Fall,” projects that new and existing home sales are expected to drop by 22% and 17%, respectively, in 2022.
Still, despite the dour projections for the housing market ahead as we enter the third quarter of 2022, home prices through the second quarter of year reached a high plateau. Average home prices were up significantly in the second quarter of this year, to $525,000, compared with $440,600 for the same period in 2021, according to the Federal Reserve Bank of St. Louis. The median sales prices in the second quarter of this year was $440,300, compared with $382,600 for the second quarter of last year, the report shows.
“Higher home pricing and mortgage rates continue to curb homebuyer demand,” states Mortgage Capital Trading in its September 12 daily market report. “Mortgage rates climbed from 3.1% for a 30-year fixed in June 2020 to 5.8% on June 23, 2022, based on Freddie Mac’s rate-survey data.
“With a 3% down payment, this has pushed the average mortgage payment from roughly $1,900 to over $3,400 a month, taking home price and rate increases into consideration.”
Even if the inflation rate is finally moderating, however, don’t expect a break from the aggressive upward rate push by the Federal Reserve’s Federal Open Market Committee (FOMC) in its battle to stem rising inflation. Its next meeting is slated for September 20-21.
A recent “Fed Chatterbox” report from investment bank Goldman Sach’s Economics Research unit states that “several participants suggested that the FOMC could hike [rates] by either 75 or 50 basis points in September.”
“Chair Powell noted that, following the two 75 basis-point hikes in June and July, ‘another unusually large increase could be appropriate’ at the September meeting,” the Goldman Sachs report continues. “Last week, the Wall Street Journal reported that the FOMC ‘appears to be on a path to raise interest rates by another 0.75 percentage point this month,’ a likely hint from the Fed leadership that a 75 basis-point hike is coming at the September meeting.
“No FOMC participant has argued against delivering a 75 basis-point hike, and a few participants indicated that they preferred to frontload rate increases.”
But crunching numbers too much can be a crutch, rather than a tool.
Before she enrolled in Your First Rental Property (YFRP), Kelsey found herself stuck in analysis paralysis. She wanted to invest in rental property, but she kept crunching theoretical numbers without taking action.
“When people talk about how difficult it is to get over analysis paralysis, that is me, that is absolutely me, because I’m such a numbers person,” she said. “I love to analyze every single aspect of something new.”
She’s not alone.
Analysis is great. But analysis paralysis, when overthinking or overanalyzing leads to inaction, is one of the most common obstacles new investors face.
When you’re putting significant savings on the line, analysis paralysis is a normal fear-based response.
But it sidelines you. It shortens your time in the market and the compounding gains that follow.
Kelsey recognized this and enrolled in the course to learn how to rigorously analyze properties without succumbing to analysis paralysis.
She learned how to transform analysis into action.
“You level up your knowledge so much faster than you possibly could have if you were doing this all on your own and trying to figure it out as you go, stumbling through every decision.” — Kelsey Kaszas
The California resident began her search near the opposite coast, in Pittsburgh, Pa.
In 2018, Kelsey was introduced to Pittsburgh by her soon-to-be-wife, whose family lives in the area. She noticed that price-to-rent ratios looked promising, so she used the tactics she learned in YFRP to research the area from afar.
She started looking for off-market deals, including driving for dollars and working with wholesalers — “something I learned about in your course,” she said.
Yet something felt … off.
She decided to take a break and focus on wedding planning. She knew she had YFRP course and community access for life, and she could return to the course for knowledge, support and confidence whenever the time felt right.
Two years later, Kelsey had an epiphany while on vacation in Joshua Tree National Park. This is right, she realized. She wanted to invest in this area in Southern California.
She knew she’d need to be flexible, knowledgeable and innovative to make the numbers work.
Kelsey dove headfirst back into the course, refreshing her real estate knowledge by reviewing every module again. She joined a YFRP mastermind group. She attended Office Hours. She used the spreadsheets and other resources nearly daily.
“The course is just so comprehensive that when you … try to learn it and take all the quizzes and you’re engaging with the course material, you level up your knowledge so much faster,” she said.
She made offer after offer. Most didn’t pan out, but Kelsey was undeterred. She had the support of the YFRP community and the confidence that comes from deeply understanding the numbers.
“The last four months has been nonstop real estate for me,” she said.
The YFRP Analyzing Module features a robust spreadsheet that helped her make well-informed offers. She could calculate how much she’d need to pay for a property in order to get the profit margin she wanted.
During the hottest seller’s market in a decade — early 2021 — she made competitive offers, using tactics she learned in YFRP.
On March 11, 2021, Kelsey closed on her first rental property, located six minutes away from the entrance to Joshua Tree National Park.
We talked to Kelsey on the day of her closing. Here’s what she said:
“There’s so much – so many positive things I could say about my experience with taking the course … and getting to engage with the forums and with people in the mastermind group.”
“Office Hours were huge — getting face-time with you and being able to ask questions as they come up. And I know that’s been big for other people.
“And sometimes I’ll go back and listen to Office Hours recordings, because someone else will have a question that maybe I would have had. And so instead of having to ask it myself, I can just go listen to the recording and the information is all there. That’s support in a way that you wouldn’t really be able to find anywhere else.
“Being able to interact on the forums, and if someone has a question, there’s a whole group of people who are ready to help, ready to answer these questions. I think that really shows what a strong community is being built with every single cohort that goes through the course.”
What’s next for Kelsey? She’s gearing up to renovate her property — as a long-distance investor — and she’s turning to the Renovation Module within the course to support her during this project.
The Renovation Module, she says, prepared her for intense conversations with her contractor, and she’ll be returning to this module repeatedly as she makes renovation decisions from her home in Los Angeles.
The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group, also sees in the upper end of the Southern California market.
The $1 million to $4 million homes market is very competitive, and qualified borrowers are having a hard time finding homes. However, there’s an oversupply of Inventory for homes priced $5 million plus, Cohen said in an interview with HousingWire.
“It’s a two-story housing market in Southern California,” Cohen said.
Cohen funded $751.4 million in loan volume in 2022, which led to him being the second-ranked loan originator of the year, Scotsman Guide’s rankings showed. Cohen trailed behind Guaranteed Rate‘s Shant Banosian, who originated $925 million during the same period. He was the number one mortgage broker and the loan officer with the most non-QM origination volume, according to Scotsman Guide.
Among mortgage brokers, Cohen ranked first.
While there are fewer move-up buyers now compared to the pandemic years, Cohen noted the uniqueness of the Southern California housing market, in that people tend to move more frequently compared to other states as they accumulate wealth.
“Here in LA, if you make money, you have your starter home, and if you make more money in the next few years, three, four or five years, you go to a bigger house. It’s not like in the Midwest or in other areas where you are in the house for the next 30 years. (…) There’s a lot of upward movement in LA. That’s why the market is so brisk,” Cohen said.
Read on to learn more about the two sides of the Southern California housing market and how Cohen stays competitive.
This interview has been condensed and lightly edited for clarity.
Connie Kim:California – as well as the rest of the country – is experiencing issues from a serious lack of inventory. I’m curious what the situation has been for the high-end markets you target.
Mark Cohen: I think inventories are improving a little bit just from what I’ve seen the last four, five, six days. But there are many clients, who are well qualified, trying to buy houses. For the most part, it’s the $3 million and under category. Anywhere from about $1 million to $4 million, the market is very, very competitive.
It’s a two-sided market here. Once you get over the $5 million threshold, there’s this oversupply, and the psychology of property tax is having a real negative effect on the market. I think there were only two or three sales last month in LA County over $5 million.
However, you’ll see isolated sales too. Beyonce and Jay Z bought a $200 million house in Malibu recently, so you’re going to see things like that. But as a general rule, the $5 million to $10 million market is off.
Kim: You also do a lot of non-QM loans. Who are your main borrowers?
Cohen: Executives, it’s probably a mix of 50/50. There’s a whole bevy of people here in Los Angeles that are self employed, who have good jobs, good businesses, but they don’t show everything they make on their tax returns. That’s where non-QM comes into play. The rates for those loans are pretty aggressively priced in comparison to the bank rates like JP Morgan Chase and Bank of America.
The rates – depending on the loan-to-value and credit score – are only about half to three-quarter points higher, which is really tangible. So it opens up a whole new avenue for people who fall within that category.
Half the clients go to the traditional banks where we can show tax returns.
Kim: If you have a lot of so-called wealthy borrowers, I would assume a lot would be interested in investment properties. How much of your sales is investment properties versus first-time homebuyers?
Cohen: I also do heavy work in the entertainment business in Southern California. I have several dozen business managers, money managers that I do work with. I would say maybe 10 to 15% of the deals are investment property deals.
A lot of first time buyers [actually], which is good because they’re not used to having 3% mortgages. They’re not going to be sensitive to the rate differentials.
Here in LA, if you make money, you have your starter home, and if you make more money in the next few years — three, four or five years — you go to a bigger house.
It’s not like in the Midwest or in other areas where you are in the house for the next 30 years. It doesn’t really work that way. In most situations, especially with young couples, they get married, have a kid and they need more rooms, assuming they’re doing well. So there’s a lot of upward movement in LA. That’s why the market is so brisk.
Kim: That’s really interesting. It’s quite the opposite from other areas, where people in different states are not moving, thus creating an inventory lock-down.
Cohen: It’s held back to a degree. I’m not saying it’s overly buoyant, but a lot of people really need more rooms when you have a kid. A lot of people I work with make money and there’s a lot of money in upward mobility.
Kim: So are they less impacted by the higher rates compared to about three years ago?
Cohen: Everybody is impacted. But we get the best deliverable rates – rates are in the 5s. So yeah, they’re less impacted. They’d rather pay more with the idea that at some point in time, which will occur in the next six to 12 months, rates will be lower. We’ll have the window to refinance the house.
Kim:What does your product mix look like?
Cohen: With the yield curve where it is, if you’re going to do a bank loan, it’s pretty much all 30-year fixed rate loans or 10-year adjustable-rate mortgages (ARMs).I’m doing a lot of HELOCs. Refinances are maybe 10% of business here from where it used to be at around 40, 50%.
I do have one brokerage house that if you have a million dollars net worth with them, rates are in the high 4s or low 5s. Lower loan-to-value, so I do have some good rates, but that’s going to be for more affluent people.
Kim: What helped you become the top producing broker in 2022? Does Cohen Financial Group have proprietary tech or are sales mostly coming from referrals?
Cohen: I’ve been in the business for 36 years, and it helps obviously knowing people and constantly following through. It’s the same thing in any business: doing the right things.
I’ve got very strong resources in banks and private banks, and on the non-QMs. I’m very picky with who I work with in terms of banks, because the worst thing to do is to get in situations where you don’t have control over the deals.
Kim: There’s a forecast that the 30-year fixed rates will drop lower in the second half of the year. Do you think it will be a better year for you compared to 2022?
Cohen: To maintain this to the best I can and hopefully achieve the same numbers. Obviously the more the better, but I’ve got no control. Just to do the right thing, get good execution and keep my relationships going with people, which I always work on.
It’s been a little over five years since the tragic passing of both Carrie Fisher and her mother, Debbie Reynolds, who died within 24 hours of each other.
Both A-list actors with thriving careers that spanned decades, the mother-daughter duo were also BFFs and roomies.
Carrie Fisher and her mother, actress Debbie Reynolds. Photo credit: Kathy Hutchins / Shutterstock.com
Best known for her iconic role as Princess Leia in George Lucas‘ epic Star Wars franchise, Carrie Fisher was born in Burbank, California, to actress Debbie Reynolds and singer Eddie Fisher.
And while their family didn’t stay together, as Eddie famously moved on to marry another Hollywood icon, Elizabeth Taylor, Carrie and her mom, Debbie, remained inseparable to the very end.
The two even lived next door to each other for close to 15 years.
But before they moved back to the West Coast, the mother-daughter duo, along with Carrie’s brother, Todd, lived in a beautiful brownstone in New York City — that has recently hit the market for $11.5 million. And it’s a stunner!
Here’s the full scoop on the Upper East Side townhouse that has the perfect blend of custom updates, skilled craftsman details, and a history of illustrious past residents.
The Reynolds-Fisher beloved family home
Located at 154 East 74th Street on the Upper East Side, the stunning townhouse is a New Yorker’s dream come true.
And it was well-loved and lived-in by the Reynolds-Fisher family.
Photo credit: Shannon Dupre of Ddreps courtesy of Compass
Reynolds’ son, and Carrie’s younger brother Todd Fisher, wrote about the beautiful brownstone in his 2018 memoir, My Girls: A Lifetime with Carrie and Debbie.
“My first birthday away from Greenway Drive. A car was waiting at JFK to take me and my luggage to 154 East 74th Street, the four-story brownstone between Third and Lexington where I’d be living with Mom and Carrie,” he wrote.
He added: “There were two bedrooms on the fourth floor. One was Carrie’s. The other, when she was in town, was Joan Hackett’s,” referencing one of Carrie’s closest friends, Oscar-nominated actress Joan Hackett.
But there’s more to this upscale city residence than its star-studded past.
Built in 1910, the beloved family home oozes timeless charm and the perfect updates for today’s distinguished buyer.
And it’s now up for grabs, asking $11.5 million (Compass’ Steve Halpern holds the listing).
A look inside the beautiful brownstone
Every square inch of the townhouse offers the perfect blend of luxury and comfort.
Spanning 4,275 square feet, the 4-story home features 5 bedrooms and 5 baths.
Photo credit: Shannon Dupre of Ddreps courtesy of Compass
Upon entering the brownstone on the ground floor, you’ll find a generously sized soundproof media room including a projector and movie screen.
Photo credit: Shannon Dupre of Ddreps courtesy of Compass
In addition to a fully functional second kitchen, French doors lead to the spacious backyard featuring a comfortable sitting area, complete irrigation system, and basketball court.
Photo credit: Shannon Dupre of Ddreps courtesy of CompassPhoto credit: Shannon Dupre of Ddreps courtesy of Compass
As you go up the stunning staircase to the parlor level, you’ll find a grand chef’s kitchen including double sinks with garbage disposal, a Gaggenau induction cooktop, dual Miele dishwashers, microwave/convection combo, subzero fridge, and recently refinished countertops.
Photo credit: Shannon Dupre of Ddreps courtesy of Compass
The north end of the floor features a formal living room and a stylish powder room.
Photo credit: Shannon Dupre of Ddreps courtesy of Compass
As you ascend to the next level, you’ll find the primary bedroom featuring a gas fireplace, heated flooring, double vanities, and a separated wash closet and shower. On the other end of the floor is another bedroom.
Photo credit: Shannon Dupre of Ddreps courtesy of Compass
The top floor features a fantastic skylight that fills the entire center of the home with all-day sun exposure. This level also offers 2 large bedrooms both including en-suite bathrooms and radiant heated floors.
The townhouse also offers a basement level with a laundry room, an 800-bottle wine cellar with a new Wine Guardian D025 cooling unit, and a fully functional home gym.
Photo credit: Shannon Dupre of Ddreps courtesy of Compass
Steve Halpern, head of The Halpern Team at Compass holds the listing, which can be viewed in more detail here.
The mother-daughter duo moved next to each other on the West Coast
Of course, the famous mother-daughter acting duo also had roots in Los Angeles.
The iconic actress’ also lived in California, in side-by-side mansions located in Beverly Hills.
For more than 15 years, they lived in the upscale neighborhood of Coldwater Canyon, Mansion Global reports.
Together, the posh properties span 3.5 acres and included Reynolds’ Spanish-style home and Fisher’s secluded, tree-filled abode.
Famous for her portrayal of Princess Leia in Star Wars, Fisher first moved into the swanky neighborhood in 1993. And her mother, who was well known for many movies including her breakout role in Singin’ in the Rain, moved next door in 2000.
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One of the most magnificent mansions in all of California, Hearst Castle has a rich history that captivates audiences just as much as its striking architecture.
Built more than a quarter mile above the Pacific Ocean, the California castle that was formerly known as La Cuesta Encantada (Spanish for The Enchanted Hill), is a historic estate in San Simeon, Calif.
Perched on a hill halfway between San Francisco and Los Angeles along the Central Coast of California, Hearst Castle was originally built as a private home for publishing tycoon William Randolph Hearst.
Hearst, who was one of the wealthiest people alive at the time, is said to have been the inspiration for Orson Welles’ iconic Citizen Kane movie — whose protagonist lived in “the world’s largest private estate,” called Xanadu.
Hearst Castle in San Simeon, Calif. Photo credit: Zlatko, CC BY-SA 3.0, via Wikimedia Commons
While Welles’ portrayal of Hearst was less than favorable, Xanadu — a name inspired by the ancient city of Xanadu, known for its splendor, and later picked up by Bill Gates as a moniker for his longtime home near Seattle, WA — captured the grandeur of the publishing magnate’s palatial estate.
Now, one century after W.R. Hearst started building his opulent home, Hearst Castle is registered as a National Historic Landmark and California Historical Landmark — and is welcoming visitors who want to revel in its illustrious past.
So we thought we’d delve into the storied history of one of the grandest private homes ever built in the Golden State.
The history of Hearst Castle
Construction of Hearst Castle took nearly thirty years, from 1919 until 1947.
Conceived by publishing magnate William Randolph Hearst and his trusted architect Julia Morgan, Hearst Castle would become a mansion worthy of one of the wealthiest men alive at the time (named Casa Grande).
The main estate was surrounded by three guesthouses (called Casa del Mar, Casa del Monte and Casa del Sol).
But the property traces its history all the way back to 1865, when William Randolph Hearst’s father George Hearst purchased the original forty thousand acre estate and Camp Hill, the site for the future castle.
Historic photo of Hearst Castle. Photo credit: National Archives and Records Administration, Public domain, via Wikimedia Commons
In 1919, William Randolph Hearst inherited $11 million and the family’s estates — including the land where his future castle would sit on.
With his fortune, Hearst created a publishing empire of newspapers, magazines and radio stations.
To this day, the Hearst family remains involved in the ownership of Hearst Communications. Some of their common-day magazines include ELLE, Cosmopolitan, Good Housekeeping, O, the Oprah Magazine,and Men’s Health, as well as newspapers such as San Francisco Chronicle and The Advocate, and websites such as Delish.com and BestProducts.com.
But, back to the castle.
Due to the popularity of his publishing empire, Hearst was financially able to build his dream house. And with the help of “America’s first truly independent female architect,” Hearst and Julia Morgan began dreaming up Hearst Castle.
Morgan was a pioneer.
The first woman to study architecture at the School of Beaux-Arts in Paris and the first to have her own architectural practice in California, she was also the first female winner of the American Institute of Architects Gold Medal.
For over twenty years, Hearst and Morgan collaborated as close friends and business equals on the grand castle, making it her most well-known creation.
Hearst Castle’s many rooms and endless amenities
The end result was beyond spectacular: when it was finally completed, the Hearst estate had a total of 42 bedrooms, 61 bathrooms, and 19 sitting rooms.
The sprawling grounds of the castle spanned 127 acres, encompassing gardens, indoor and outdoor swimming pools, tennis courts, its own private theater (a rarity back in the day), and an airfield.
One of the many opulent rooms inside Hearst Castle. Photo credit: Dani Lavi 0007, CC BY-SA 4.0, via Wikimedia Commons
The pools alone are so magnificent they’d warrant a visit to the castle just to revel in their beauty.
The Roman Pool — the castle’s indoor pool — was built to mimic an ancient Roman bath.
Featuring shimmery glass mosaic tiles inspired by the Mausoleum of Galla Placidia in Ravenna, Italy (created by British muralist Camille Solon, according to Architectural Digest), the pool resembles a mesmerizing sea of blue and gold.
The blue/orange pool inside Hearst Castle. Photo credit: Manasi.nasery, CC BY-SA 4.0, via Wikimedia Commons
The outdoor Neptune Pool — which has its own Wikipedia page — was built and rebuilt three times, each version a larger size.
In its now final form, the pool is 104 feet long, surrounded by Ancient Roman Revival and Greek Revival style pavilions and colonnades with 17th-century bas-reliefs.
The Neptune Pool at Hearst Castle. Photo credit: King of Hearts, CC BY-SA 3.0, via Wikimedia Commons
During Hearst’s lifetime, the property was also home to the world’s private zoo.
Even today, visitors who tour the castle are taken aback by its grandeur.
A tour of the grand rooms of the Hearst Castle will have you walking 2 to 3 miles to visit just the essential places, like the Assembly Room, Refectory, Morning Room, Billiard Room and Theater. But the effort would be worth it, as you’d be stepping in the footprints of some the most well-known people of the 20th century.
Who lived (and socialized) at Hearst Castle?
Hearst Castle was originally built as a family home for Hearst, his wife, vaudeville performer Millicent Willson, and their five sons.
But after years of Hearst’s longtime affair with actress Marion Davies, the couple separated.
With Millicent out of the picture, Davies moved into the castle and the couple hosted A-list parties with some of Hollywood’s elite stars, including Charlie Chaplin, Cary Grant, the Marx Brothers, Mary Pickford, Jean Harlow, Greta Garbo, Buster Keaton and Clark Gable, to name just a few.
Politicians such as US President Calvin Coolidge and British Prime Minister Winston Churchill, as well as other notables including Charles Lindbergh, P. G. Wodehouse, and Bernard Shaw were also guests at the castle.
A social gathering at W.R. Hearst’s estate. Photo credit: Erich Salomon, Public domain, via Wikimedia Commons
Typically, guests gathered at Casa Grande for beverages in the Assembly Room and dinner in the Refectory.
During the day, guests were left to fend for themselves and enjoy the elaborate grounds. They played tennis, went horseback riding, and played croquet or golf while enjoying the views.
Of course, everyone packed their swim trunks for a dip in the outdoor pool. And in the evening, guests watched the latest Hollywood films in the private theatre before retiring to the luxurious accommodations provided by the guest houses of Casa del Mar, Casa del Monte, and Casa del Sol.
None other than Charlie Chaplin once commented on the impeccable hospitality he experienced at Hearst Castle.
“Dinners were elaborate, pheasant, wild duck, partridge and venison,” Chaplin reportedly said. “[Yet served] amidst the opulence, we were served paper napkins, it was only when Mrs. Hearst was in residence that the guests were given linen ones.”
During the elaborate social gatherings, Morgan continued to build the castle until its completion in 1947.
Hearst died in 1951 at the age of 88.
What happened to the castle after Hearst’s death?
As they say, all good things must come to an end.
After Hearst’s death, his longtime lover, Marion Davies (who was excluded from his funeral) was forced to move out.
And his trusted architect and close friend, Julia Morgan, closed her San Francisco office after a successful 42-year career and reportedly became a virtual recluse until her death in 1957.
In 1958, the Hearst Corporation donated Hearst Castle — including the gardens and most of its contents — to the state of California.
That same year, Hearst Castle was opened to the public for the first time.
In 1972, Hearst Castle was added to the National Register of Historic Places, and in 1976 it became a United States National Historic Landmark.
Currently, at Hearst Castle…
You’d think Hearst Castle would be a hot location for Hollywood films.
However, commercial filming at the castle is rare. Since 1957, only two big projects have been granted permission to film here.
In 1960, Stanley Kubrick’s film Spartacus used the castle to stand in as Crassus’ villa, and in 2014, Lady Gaga‘s music video for G.U.Y. was filmed at the Neptune and Roman Pools.
Since its opening in 1958, Hearst Castle has become a major California tourist attraction, attracting crowds of close to one million people every year.
The visitor center at Hearst Castle in San Simeon, Calif. Photo credit: Photo by Carol Lee on Unsplash
Who owns Hearst Castle?
While the Hearst family maintains a connection with the castle, the estate is now a historical landmark owned and operated by the California State Park system.
In 2019, socialite Amanda Hearst, W. R. Hearst’s great-granddaughter, married Norwegian film director Joachim Rønning at the castle (which was closed to the public only for that one day).
But the castle is now a museum open to the public as a California State Park and registered as a National Historic Landmark and California Historical Landmark.
And it’s quite a spectacular spot.
From a north-facing terrace, visitors can look out into the Santa Lucia Mountains and as far as Junipero Serra Peak.
Not to mention the art.
There are four original 16th-century tapestries from the Deeds of Scipio Africanus series hanging on the walls of the Assembly Room, CNN reports.
With most of the original objects on display, Hearst Castle is a magnificent museum not to be missed if you’re in the San Simeon area.
And if you happen to be planning a visit to San Simeon, with the Hearst Castle as the main attraction, here’s a handy map with all your accommodation options nearby:
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If you’re a Netflix fanatic like us, you’ve probably binged shows like Selling Sunset or The Real Housewives of Beverly Hills, meaning you already have an idea of what life is like in sunny Los Angeles — and its ritziest surroundings.
The truth is, Cali living is just about as glamorous as you’re imagining. Just by walking on the streets of L.A., you’re bound to bump into Hollywood celebrities at some point in the week — and there’s no place with bigger odds for celeb spottings than Beverly Hills.
Biggest celebrities living in Beverly Hills, California
If you’ve ever wondered what celebrities live in Beverly Hills, we’re here to solve that mystery for you. Because it’s not just housewives who live here if you know what we mean (we’re looking at you, RHOBH fans).
Some of the most famous people in the world reside in Beverly Hills, and we’re about to give you a run-down of our favorites.
After a little bit of real estate detective work, we’ve compiled a list of celebrities who live in Beverly Hills at the moment – they do tend to move around a lot. If you’re planning a visit and are thinking of taking a tour of celebrity homes in Beverly Hills, then make sure these next Hollywood stars — and power couples — are on your list.
John Legend and Chrissy Teigen
Image credit: Simon Berlyn for Sally Forster Jones of Compass, inset Featureflash Photo Agency / Shutterstock
Celeb power couple John Legend and Chrissy Teigen paid $14.1 million to buy Rihanna’s former home in Beverly Hills back in 2016. The couple and their two children made the most of their stunning home during Covid19 lockdown and shared jaw-dropping images of the family hanging out at the property.
But the couple was soon ready for a change, and they listed their long-time home for close to $24 million in the summer of 2020. They found their new dream home pretty quickly, and it was another Beverly Hills gem that cost them $17.5 million – a price worth paying for the zip code alone (90210).
The couple’s new home features 6 bedrooms, 9 bathrooms, a 10,700-square-foot open floor plan, and 24-foot ceilings. They also get panoramic city-to-sea views from almost every corner of the house – a pretty nice upgrade, if you ask us.
SEE INSIDE: Chrissy Teigen and John Legend’s house, a Beverly Hills trophy home
Ashton Kutcher and Mila Kunis
A sporadic Shark Tank host and savvy investor, Ashton Kutcher knows how to wisely invest his growing fortunes. And it’s no surprise that the former That 70s Show actor, along with his equally (if not more) talented wife joined the ranks of celebrities living in Beverly Hills.
Mila Kunis and Ashton Kutcher live in a striking hilltop farmhouse that overlooks the rest of Beverly Hills. The two have taken the farmhouse life seriously and set out to turn their million-dollar property into a fully sustainable farm.
Fun fact: Ashton Kutcher (@aplusk) and Mila Kunis have the sustainable L.A. farmhouse of your dreams (and ours, too, for the record).
The design-obsessed couple gave us a tour of their six-acre property for the cover of our June issue: https://t.co/DDOzrGEiSr pic.twitter.com/5LS1WPYu7c
— Architectural Digest (@ArchDigest) May 18, 2021
KuKu Farms, as the couple lovingly call their homestead, now features a well — that irritates the land — and a corn field, on top of a sprawling garden full of squash, tomatoes, lettuces, and more.
But don’t let that fool you into thinking the property is a rural farmstead. In fact, it’s one of the most beautiful celebrity homes in Beverly Hills, proving that style and sustainability are not mutually exclusive.
Jack Nicholson
Jack Nicholson owns many properties across the country, but his long-time residence is located in Beverly Hills, on the notorious Mulholland Drive.
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The multiple Academy Award winner is a veteran Beverly Hills celebrity resident, having first bought his property in 1969, purchasing additional parcels over the years to expand its footprint. He even bought Marlon Brando’s former neighboring home in 2005, razed it, and had it rebuilt.
Nicholson’s Beverly Hills home is also famous for darker reasons. It’s here that director Roman Polanski reportedly abused an underage girl, while Nicholson and his then-girlfriend Anjelica Houston were away.
The original house that used to stand on the site burned down, and various other incidents took place on Mulholland Drive, leading some to claim that the entire area is cursed. Maybe that’s what inspired David Lynch to make a movie about it.
Taylor Swift
Taylor Swift’s Beverly Hills abode is in a league of its own. The singer paid $25 million for movie mogul Samuel Goldwyn’s home back in 2015 — yeah, that Goldwin, you know, of Metro Goldwyn Mayer?
Taylor Swift’s house in Beverly Hills, seen from above. Photo credit: Zillow, insert Raph_PH, CC BY 2.0, via Wikimedia Commons
Swift’s mansion was actually granted landmark status in 2017, which means the young musician now owns a piece of Hollywood history. The property has never before been owned by someone not part of the Goldwyn family, so Swift is also writing history, if you think about it.
The 10,982-square-foot mansion is to be restored to its former glory, with the approval of the Beverly Hills City Council, of course.
The singer also owns a sprawling house in Rhode Island, which got a shout-out on her 2020 album, Folklore, with the song The Last Great American Dynasty paying tribute to the wealthy (and eccentric) socialite that owned the house before her.
SEE ALSO: Taylor Swift’s Holiday House — Home to “the Last Great American Dynasty”
Adele
Photo credit: Simon Berlyn / Compass, inset via DFree / Shutterstock.com
Grammy-winner Adele is another Brit who has a thing for California living. The singer purchased her first home in Beverly Hills in 2016 for $9.5 million, and her second in 2018, after splitting from husband Simpon Konecki.
She didn’t venture very far to find her second home, though, as the two properties are across the street from each other. Adele’s second Beverly Hills abode cost her $10.65 million and was built back in 1961 in the gated community of Hidden Valley. It was previously owned by film producer Michael Hertzberg, according to the L.A. Times.
But the singer didn’t stop there.
Adele added another stunner to her real estate portfolio in 2022, when she shelled out $58 million for a property previously owned by Sylvester Stallone.
Adele’s sprawling mansion boasts the iconic 91210 zip code and is located in Beverly Park, which is still pretty close to Beverly Hills if you ask us. The new luxurious estate is now her home base, although she continues to own several properties in Beverly Hills.
SEE INSIDE: Adele’s house in Beverly Park, the $58M ‘house that Rocky built’
Sandra Bullock
Actress Sandra Bullock is also part of the elite group of Hollywood stars who reside in Beverly Hills. Our beloved Miss Congeniality paid $16.9 million in 2011 for a seven-bedroom mansion right next door to Ricky Martin.
Photo credit: Michael McNamara at ZenHouse Collective and Preview First, inset Fred Duval / Shutterstock.com
Bullock also used to own a 3,153-square-foot home right above the Chateau Marmont on the Sunset Strip, which she rented out for a whopping $18,500 per month. She reportedly had enough of her role as landlord and sold that property in 2018.
An avid real estate investor and collector, Bullock has an impressive real estate portfolio to her name. While her current home base is in New Orleans, Louisiana, Bullock also spends time at her residences in Beverly Hills, Malibu, Austin, and New York City, to name just a few.
In early 2021, the actress paid $2.7 million for a 1946-built bungalow nestled in the mountains above Beverly Hills. The multi-acre property features 3 bedrooms, 3.5 bathrooms, a swimming pool with a waterfall, and gorgeous views. The Hollywood actress likes to keep her personal life private, so there’s no telling how much time she gets to spend at each of her various properties.
Jennifer Lawrence
Hunger Games star and Hollywood darling Jennifer Lawrence moved into her gorgeous Beverly Hills home back in 2014. The luxurious five-bedroom home came with a price tag of over $8 million, and an impressive list of previous homeowners, which includes Jessica Simpson and, shocker, Ellen DeGeneres.
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The property boasts a romantic, European-inspired vibe, which you might not have expected from a strong personality such as Lawrence. The actress enjoys beautifully landscaped grounds, a koi pond, a swimming pool, and even a home gym. No wonder she’s in such good shape.
Nicole Kidman and Keith Urban
Actress Nicole Kidman and her husband, country singer Keith Urban purchased their current Beverly Hills residence in 2008 for roughly $4.7 million, adding to their already heavy portfolio of real estate.
Photo credit: Google Maps, insert Kathy Hutchins / Shutterstock.com
Since the acquisition, Kidman and Urban upgraded the property to include fun amenities for their children, including a jungle gym, a pool slide, and a chic cabana.
Their main residence is still in Nashville, but they own properties across the U.S., and their Beverly Hills mansion is reportedly one of their favorites. We say reportedly, because the couple is very private, and not much is known about their whereabouts. Even the interior of their Beverly Hills home remains a mystery, but we can safely suspect that it’s nothing short of glamorous.
Jason Statham and Rosie Huntington Whiteley
Next up on our list of Beverly Hills A-listers is probably the most good-looking couple on the planet. British movie star Jason Statham and supermodel Rosie Huntington-Whiteley settled in Beverly Hills in 2015, when they paid $13 million for a stunning five-bedroom mansion.
Their incredibly beautiful home was designed by Jenni Kayne, and is a perfect mix of contemporary architecture and timeless elegance. We wouldn’t have expected any less from the Victoria’s Secret model, as her taste is always impeccable.
You can take a peek inside the couple’s Beverly Hills mansion by watching Vogue’s 73 Questions With Rosie Huntington-Whiteley video:
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Not to mention that Statham is a passionate houseflipper. The couple and their young son spent lockdown at their modern mansion, where Rosie even filmed several Youtube videos sharing her beauty and style tips.
Kendall Jenner
Kendall Jenner’s art-filled Beverly Hills home is so gorgeous that it was even featured in Architectural Digest. The supermodel gave us all a sneak peek inside her sprawling, $8.55 million Mulholland Estates home that was once owned by Hollywood bad boy Charlie Sheen.
Photo credit: Youtube / Architectural Digest
Jenner purchased the house back in 2017, and she listed a team of experts to help her redesign it to her heart’s desire. The result is a cozy, serene, and quiet escape from Jenner’s busy daily life, and a perfect retreat away from the prying eyes of the media.
The 6,625-square-foot home features meditation corners, a peaceful backyard, and an art studio where Jenner gets to unleash her creativity.
SEE ALSO: Keeping Up With the Incredible Homes of the Kardashians – the 2023 edition
Jeff Bezos
Amazon CEO Jeff Bezos is another celebrity with an impressive real estate portfolio under their belt. But this one is on an entirely different level, because Bezos owns the most expensive property in Beverly Hills, and probably one of the priciest in California.
Bezos paid a whopping $165 million for the Jack Warner Estate, previously owned by David Geffen, in early 2020. It was a record sale for a private residence in Los Angeles County, and one of the priciest residential sales in the country.
The Warner Estate was built back in the 1930s and is a one-of-a-kind historic gem worthy of Great Gatsby-style parties. Since purchasing the luxurious mansion, Bezos invested heavily in upgrades, adding a pool house, a powder room, and more high-end amenities.
Lizzo
In October 2022, acclaimed singer and songwriter Lizzo paid $15 million to snag Harry Styles’ former luxury mansion in Beverly Hills. The house was built in 2019 and boasts the legendary 91210 zip code, as well as 5,300 square feet of living space, 3 bedrooms, and 4 bathrooms.
Lizza and her house in Beverly Hills. Property photo credit: Alex Zarour, insert Cosmopolitan UK, CC BY 3.0, via Wikimedia Commons
Nestled in a private, gated community perched in the mountains atop Beverly Hills, Lizzo’s new home was owned by singer Harry Styles from 2014 to 2016. Since then, the property was remodeled and upgraded to meet the needs of modern A-list buyers like Lizzo.
The musician has not been shy about showing off her new digs, posting content on social media of her enjoying her stunning home theater or gorgeous infinity pool.
Rihanna and A$AP Rocky
Rihanna made the news rounds in 2023 after headlining the Super Bowl halftime show, reaching another level of awesomeness in her career. Luckily, she’s got quite a few luxury properties to retreat to and unwind after an adrenaline-driven show.
The singer boasts quite an extensive real estate portfolio, splitting her time between her properties in Beverly Hills, Century City, the Hollywood Hills, and Barbados.
Rihanna’s house in Beverly Hills. Photo credit: Realtor.com, inset Cubankite / Shutterstock
Rihanna had a busy year in 2020, purchasing a five-bedroom mansion in Beverly Hills’ 91210 zip code for $13.8 million. Just months later, she paid $10 million for another four-bedroom mansion right next door. This investment might be a sign that this is where the singer and her partner, Asap Rocky, plan to settle down and raise their growing family.
The 7,600-square-foot home was built in 1938 and features 5 bedrooms, 7 bathrooms, huge walk-in closets, marble bathrooms, large private terraces, and stunning views. But above everything, the property offers privacy from the inquisitive eyes of the paparazzi.
Who knows, the house next door could house a recording studio, additional security and staff, or more baby rooms!
SEE INSIDE: Rihanna’s house in Beverly Hills
These are just some of our favorite celebrities who live in Beverly Hills. This eclectic enclave is a magnet for Hollywood stars, so the list could go on and on, but we’ll stop here – for now. Stay tuned for more celebrity-related real estate coverage on Fancy Pants Homes!
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