It is one of the more well-known lines from Lincoln’s Gettysburg address:
“government of the people, by the people, for the people, …”
Those words, well at least some of them. came rushing back to me as I looked through this week’s Real Estate section of the Wall Street Journal. fittingly known as The Mansion.
And the words did not come back to me in the way Lincoln intended.
Here are some of the titles for this week’s articles:
- Following Bidding War, Montana Ranch to Sell for Around Its $136.25 Million Asking Price
- For Sale in Santa Barbara: 3,200 Acres of Land for $75 Million
- For $25 Million, the Gilded Manhattan Townhomes of a Wall Street Heavyweight
- Once Asking $58 Million, a Private Equity Scion’s West Hollywood Penthouse Hits the Auction Block
While these stories may have been written by the people, and the houses built by the people, they are certainly NOT for the people.
My guess is that 99% of the readers of the WSJ cannot afford to buy these houses; so why would such houses be so promintently featured?
I’m sure part of it can be explained by the popularity of shows such as “Lifestyles of the the Rich and Famous”. And part of it could be motivational; there may be many readers of the WSJ who someday want to live in such houses.
It’s hard not to look at the photos that sometimes accompany these articles and daydream what it would be like to live in such a house.
But it would be helpful if every once in a while the editors of The Mansion threw the commonfolk a bone, and listed a house that was just five or six figures in price.
Imagine how good it would make you feel to read about a house you might actually be able to afford…