What Kind Of Home Does $500K Get You In LA?

Half a million is now about the median price of a home in Los Angeles. So what can you get for this price? Not much, it turns out.

"Nowadays, $500,000 is right around the median price of a home in the county â€" and buyers in that range know all too well that the middle of the road is not an easy place to be. In many neighborhoods, it buys only a starter home or condominium, and the competition for those properties is strong.

...Although it had been spruced up, the 82-year-old home was a bit worn, the bedrooms were small and the outside was painted an arresting shade of red approaching the color of pomegranate juice. The asking price for the 1,080-square-foot home was $485,000."

Full Story: $500,000 question

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