Another Downside to a Down Housing Market - NBC Southern California

Another Downside to a Down Housing Market

A John Lautner house in La Canada Flintridge still on the market

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    NEWSLETTERS

    Another Downside to a Down Housing Market
    TJ Sullivan

    The Dec. 1 issue of New York magazine included an article headlined "Modern Antiquity," which afforded LA an architectural pat on the back for the preservation efforts of The John Lautner Foundation, which tries to match "modernist houses with architecturally sophisticated new owners, listing houses for sale on their Website and inviting a prominent Realtor to their advisory board."

    Problem is a down housing market is hurting everyone, including those interested in protecting sophisticated architecture. There's a John Lautner house in La Canada Flintridge that's been on the market since June and, though the price has been reduced five times since then, according to the online listing, it remains on the market.

    The most recent price reduction, according to the online listing, went from $1.65 million to $1.595 million. It listed at $2.2 million in June.