David Bailey says Bird Streets luxury developers now lose $5M-$7M per house
David Bailey · Why He Never Sells: The Buy-and-Hold Formula That Works · Sep 15, 2025 · at 29:20
Real estate investor David Bailey explains the financial distress facing Los Angeles luxury spec home developers due to taxes and insurance costs.
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“The metrics on those homes were that the developers were generally making between five and seven million a house, and now the entire opposite is true. They're losing between five and seven million a house.”
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