The Luxury Home Market Confronts Its New Reality: Not Enough Buyers and Sellers

When Joan Dangerfield, wife of the late comedian Rodney Dangerfield, first walked into her Los Angeles home in the early 2000s, she knew immediately that she would buy it. The Art Deco-style estate, perched in the coveted Bird Streets above L.A.’s Sunset Strip, had dramatic views spanning Downtown Los Angeles to the ocean and Catalina Island.