There are too many multimillion-dollar mansions for sale in Los Angeles, and real-estate agents are going to extreme lengths to get them off the market

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Los Angeles has too many megamansions and not enough buyers. Real-estate agents are trying to sell them with parties, gimmicks, and price cuts.

Los Angeles has too many megamansions and not enough buyers, reported Katherine Clarke for The Wall Street Journal. Real-estate agents and developers are turning to themed parties, gimmicky amenities, and $100 million price cuts to get the megamansions off the market. From LA to NYC, gimmicks and price cuts are being used in big cities nationwide, signaling a slow luxury real estate market. Visit Business Insider's homepage for more stories.

Los Angeles has too many megamansions and not enough buyers, reported Katherine Clarke for The Wall Street Journal. Real-estate agents and developers are turning to themed parties, gimmicky amenities, and $100 million price cuts to get the megamansions off the market. From LA to NYC, gimmicks and price cuts are being used in big cities nationwide, signaling a slow luxury real estate market. Visit Business Insider's homepage for more stories.

 

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