Jim Carrey is the latest victim of California’s housing freeze — LA mansion price drops by $7M

Even rich, crazy liberals are harmed by the mansion tax.  Jim Carrey a very Progressive Democrat loves taxes, hates cops and is too rich to care about real people.  But a special tax on expensive homes in Los Angeles has now cost him $7 million—and probably much more before he sells him home.  Even rich people do not want their millions to go to government, instead of the real value of a home.

“The “Yes Man” actor, 62, initially listed his sprawling 10,954-square-foot Brentwood mansion for a hefty $28.9 million in February 2023.

But the lavish pad has failed to find a buyer, prompting Carrey to repeatedly slash the price. The first cut came two months later, dropping to $27 million. By October 2023, he’d trimmed it down again to $24 million.

Now, Carrey has dropped the asking price even further, settling at $21.9 million — a staggering $7 million reduction.

The relentless price cuts highlight the brutal reality facing California’s luxury real estate market ever since the controversial Los Angeles mansion tax kicked in.

Dubbed Measure ULA, this transfer tax imposes a 4% levy on property sales above $5 million and a 5.5% charge on sales over $10 million, with the funds earmarked for affordable housing and homelessness programs. When Angelenos voted yes in November 2022, it instantly became a hot topic in the L.A. real estate scene.”

My guess is that he is too crazy to realize his values, donation money and votes, have cost him at least $7 million.  He will continue to support Progressive Democrats, the Marxist Mayor Bass and the friend of totalitarians (and taker of their money), Joe Biden.

Jim Carrey is the latest victim of California’s housing freeze — LA mansion price drops by $7M

By Mary K. Jacob, NY Post,  6/3/24  https://nypost.com/2024/06/03/real-estate/jim-carrey-is-latest-victim-of-ca-housing-freeze-mansion-price-drops-by-7m/ 

Jim Carrey has hacked the price of his long-time Los Angeles estate once again.

The “Yes Man” actor, 62, initially listed his sprawling 10,954-square-foot Brentwood mansion for a hefty $28.9 million in February 2023.

But the lavish pad has failed to find a buyer, prompting Carrey to repeatedly slash the price. The first cut came two months later, dropping to $27 million. By October 2023, he’d trimmed it down again to $24 million.

Now, Carrey has dropped the asking price even further, settling at $21.9 million — a staggering $7 million reduction.

The relentless price cuts highlight the brutal reality facing California’s luxury real estate market ever since the controversial Los Angeles mansion tax kicked in.

Dubbed Measure ULA, this transfer tax imposes a 4% levy on property sales above $5 million and a 5.5% charge on sales over $10 million, with the funds earmarked for affordable housing and homelessness programs. When Angelenos voted yes in November 2022, it instantly became a hot topic in the L.A. real estate scene.

Critics, especially those in the real estate biz, argue the tax has crippled the market — not just for luxury homes, but also for multifamily developments and commercial properties, as the tax hits all sales over $5 million.

Since the tax took effect on April 1, 2023, L.A.’s luxury real estate market has been in a deep freeze, with sellers yanking properties off the market rather than shelling out hundreds of thousands in extra taxes. A year later, the market remains just as frosty.

In Los Angeles, the only city hit by this tax, sales of homes over $5 million have plummeted at double the rate of other wealthy cities. From April 2022 to March 2023, the year before Measure ULA, L.A. saw 366 single-family home sales over $5 million. In the 12 months since, that number has plummeted to just 166— a jaw-dropping 68% drop, according to data from the Multiple Listing Service.

Nearby cities haven’t been immune but are faring better. Beverly Hills saw a 24% dip in single-family sales, Santa Monica dropped 29% and Malibu declined 28%.

Now, Carrey finds himself the latest victim of this mansion tax mess.

“In California, the real estate market is experiencing a dry spell. These multi-million dollar properties, if initially priced too high, can linger on the market for an extended period,” a Los Angeles-based broker previously told The Post.

Carrey himself disclosed that his decision to sell stems from his evolving lifestyle.

“For three decades, it’s been a sanctuary for me, but I don’t spend a lot of time there now, and I want someone else to enjoy it like I have,” Carrey previously told The Post in a statement.

Nestled in the upscale Brentwood neighborhood, his one-story estate boasts five bedrooms, six full bathrooms and three half baths. Spanning over two acres, the property offers a tennis court, a waterfall pool and an outdoor treetop platform for yoga and meditation among its many luxurious amenities.

Inside, the home is bathed in natural light, showcasing modern interiors with brick and hardwood floors, white walls and beamed ceilings with skylights. The chef’s kitchen is a culinary dream, featuring ample cabinetry, a circular island seating three and top-of-the-line appliances, including an indoor barbecue.

The primary suite is a retreat unto itself, with a wood-paneled bathroom equipped with a double vanity, fireplace, soaking tub and privacy-enhancing leaded-glass windows.

Additional rooms include a custom art deco theater, gym, office and ensuite secondary bedrooms, with glass doors throughout offering panoramic views of the tree-lined neighborhood.

Outside, the estate doesn’t disappoint. It boasts a spa area, a pool house with a wet bar, an infrared sauna, a steam room and a guest suite that doubles as a separate gym.

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Despite these luxurious features, Carrey’s mansion remains unsold, and the actor’s continued price cuts are a stark illustration of the current state of L.A.’s luxury real estate market.

Janelle Friedman of Sotheby’s International Realty holds the listing.