Californias obscene housing market exposed by two $10M home listings

In one home, you have a fantastical, sprawling castle in the woods and lush fields of Iowa.In another, you have a smaller, trendy California abode that’s disappointingly normal for the price.For the home alone, the decision is easy for many onlookers.

The $10.2 million Iowan mansion covers more than 13,000 square feet and dwarfs the $9.9 million Carpinteria home at 2,135 square feet of space.The contrast exposes an obscene housing market in the Golden State, one of the most expensive in the country, that forces consumers to look smaller and smaller to afford a decent property.The impressive Iowan estate is in Toddville, a few miles north of Cedar Rapids.It has a 15-acre lake, a pond, and miles of woods.One of its owners, Dawn Ameling, said she assumed it was some expensive California home when she first saw the listing.“I assumed it was some $20 million estate in California,” Ameling told The Wall Street Journal.

“Then I looked closer and thought, ‘Oh my gosh, this thing is in Iowa!’”The home’s facade is made of a fossilized stone, and the updated landscaping is akin to an Italian villa’s, Ameling said.The house has five bedrooms, seven bathrooms, and a spacious backyard pool.The Carpinteria home, located in Santa Barbara County, is much, much smaller — but does offer “spectacular harbor, islands & sunset views.”“This 4 Bedroom beach house offers an open floor plan with an enclosed glass windbreak terrace at beachside and private gated walk-up courtyard and entry deck.“Large oceanside terrace with more than enough room for family and friends and your private steps to the sand, Serena Cove and Loon Point,” the home’s description says.The home has beachside and island views with access to the ocean.

It has four bedrooms and three bathrooms along with a spacious front patio area.Danielle Hale, chief economist at Realtor.com, told the California Post she wasn’t surprised by how close in price the two properties were despite the ...