The Pulitzer Prize winner, Kendrick Lamar a famous rapper is in the news because he bought a huge house in Brentwood. He paid more than $40 million for it. The house is on Westridge Road in Lower Mandeville Canyon.
Before Lamar, a man named, Viet Dinh, who used to work at Fox, and his wife, Jennifer Ashworth, owned it. The deal happened without it being advertised, and agents from Christie’s International Real Estate and Palm Realty Boutique helped with the sale. It’s one of the most expensive deals for a house in Los Angeles this year.
The house, built in 2018, has nine bedrooms, 15 bathrooms, a guest house, and cool stuff like a wine cellar, gym, movie room, spa, and an elevator.
More about Lamar’s New House
Lamar’s new house is super fancy and modern. It’s on a big piece of land and has a main house with eight bedrooms and a smaller guest house. The house is made of stone, marble, and old wood, and you can see the ocean from it.
There’s also a pool outside. The person who owned it before, Viet Dinh, bought it for $19.5 million in 2019. Lamar paid more than twice as much, showing how valuable the house is. The house was designed by Philip Vertoch, and it’s got lots of really nice things inside.
Lamar’s big purchase happened when buying a house in Southern California was hard. According to the California Association of Realtors, families need to make over $200,000 a year to buy an average house, which costs about $785,000.
The prices are going up because of higher interest rates, making it harder for people to get loans.
In Los Angeles County, you need to make $210,400 a year to buy a regular house, but only 14% of people make enough. This shows that most people can’t afford fancy houses like Lamar’s.
What Lamar’s Purchase Says About the Real Estate Market
Lamar’s purchase is proof of rich people’s interest in buying expensive houses, even when the economy is tough. The price of the house went up a lot in just five years, from $19.5 million to over $40 million, showing that rich people want houses in nice places.
While rich people are buying fancy houses, regular people are having a harder time buying any house because of the prices and interest rates going up. This shows a big gap between rich people’s houses and everyone else’s, and it’s a big deal in the real estate world.
