What is more remarkable here, that Van Nuys was once priced higher than Venice? Or realtors once offered “clothes poles” as an amenity?
Or Venice was a choice at all?
In case you were wondering, $9350 in inflation adjusted dollars would be $91,921 today.
You could own a house, freshly constructed, near the ocean in California for $368.95 a month at todays wages.
As you may have already observed, the fates of Venice and Van Nuys, as neighborhoods, have diverged. In Piketty-ish terms, the family which chose the smaller lot by the beach, as opposed to the larger one in the suburbs would have realized an exponential rise in capital over labor.
Here’s 6817 Matilija today, courtesy of Google Streetview. Houses on this block are listed at $500,000. And they’re selling! Madness, right? Until you consider the alternative.
Here’s a house in Venice on the same block of Greenwood as the ad, listed on Zillow at $1.2 million. Two bedrooms, one bath.
Almost makes one nostalgic for clothes drying on a line in the sun.