patrick.net

I can't imagine anyone achieving wealth from square one wasting their wealth on something this stupid. No matter how wealthy they are.

Except that the wealthy compete for their status symbols. They would pay millions for a gold plated dog turd if they thought it would make their neighbors jealous.

"Ritz is the property manager, and residents can call on a dedicated staff -- no mere hotel staffers, these -- for certain services included in their association dues."

For $50 million, those "staffers" had better be gorgeous.

Ceffer says

Except that the wealthy compete for their status symbols. They would pay millions for a gold plated dog turd if they thought it would make their neighbors jealous.

What a coincidence, I happen to have a limited number of plaque' or chien dunette available, but only for VERY select clients. If you someone who is in the employ of such a client please have them contact me for a showing.

More examples of people who buy things they can't afford with money they don't have to impress people they don't even like!

Quigley says

More examples of people who buy things they can't afford with money they don't have to impress people they don't even like!

It's the American way!

Quigley says

More examples of people who buy things they can't afford with money they don't have to impress people they don't even like!

I rather suspect the people who buy this property can afford it.

Ceffer says

Except that the wealthy compete for their status symbols. They would pay millions for a gold plated dog turd if they thought it would make their neighbors jealous.

That is simply an insecure nouveau riche fool in my book. And as the old saying goes, fool and their money are soon parted.

New Renter says

Quigley says

More examples of people who buy things they can't afford with money they don't have to impress people they don't even like!

It's the American way!

Stupid is as stupid does.

curious2 says

"Ritz is the property manager, and residents can call on a dedicated staff -- no mere hotel staffers, these -- for certain services included in their association dues."

So what?

I have the same thing (and more) in my high rise apartment building. It just comes with the rent. It doesn't cost 50 million dollars. Let alone monthly association (HOA) dues.

Mark my words: the only type of person foolish enough to pay 50 million dollars for this 2 bedroom is someone who did not earn their own fortune from the ground up.

Look at the 22 year old who paid $150 million for Arron Spellings mansion.

They do not know the value of money having never earned any. This is the reason why only 1% are "old money". In order to be "old money" future generations have to successfully hold/maintain the original wealth though at least 5 generations. Most cannot.

So future generations lose the wealth in 1-3 generations. And its because of things like this.