Monday, May 30, 2016

This May Be A Sign: Pierre Cardin's "Le Palais Bulles" Is Still On the Market at $456 Million

Some portents are easier to understand than others:

'If only God would give me some clear sign! 
Like making a large deposit in my name at a Swiss bank'
-Woody Allen

That's pretty hard to misinterpret.

In the same way, having a house topping the 'For Sale' league table named The Bubble Palace is, as the Hollywood types say, maybe a bit on the nose.

The Bulles tidbit is from Wolf Street's link to the big New York Times May 28 story on the surfeit of residences asking $100MM and up:
Last Time this Happened, the Housing Market Collapsed

In 2015 we linked twice to the only property asking more, in May's "Signposts: Movie Producer/Developer Expects Spec Home to Fetch $500 Million" and then in November's vaguely desperate-sounding "Builder Says $500 mil Mansion Should be Seen As a Bargain".

Of course there's always "Now It Can Be Told: The Story Behind L.A.'s Billion Dollar Trophy Property... plus a Special Bonus!" should the bull market last a couple years longer.

Here's the Daily Mail on Cardin's listing last fall, not to my taste but in a nice 'hood, down the road from Antibes and Cannes.