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saberience 3 days ago

Yeah but having a 15M house and say 200k income makes you poor, as a 15M house needs a ton of money to maintain it.

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giobox 3 days ago | parent | next [-]

If you are paying property tax in LA based on a 15m valuation, that 200k income will struggle to cover the annual property tax bill let alone any maintenance or anything else.

	▲	clpm4j 2 days ago \| parent [-]
		The property tax is calculated based on the last transaction price of the home, so despite it being estimated at $15m today, the owner would be paying tax on a much lower value (assuming they purchased it many years ago).

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supportengineer 2 days ago | parent | prev | next [-]

The rule of thumb for upkeep of houses, airplanes, and cars is about 1% annually.

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vkou 3 days ago | parent | prev [-]

Ill trade 5M cash and 200k income for that any day of the week.

The first thing I'd do is sell.

	▲	comfysocks 2 days ago \| parent [-]
		>>The first thing I'd do is sell Me too. And it looks like that’s what the heirs are doing too. But for David Lynch, I can see why he might want to live amongst the people involved in financing, making, and distributing movies. Similar to how founders move to the expensive Bay area to be near VCs, talent, etc.