Can't Afford Your Mortgage? Call It Art

Clancco  ||   28 May 2008

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(Kaufmann Desert House, by Richard Neutra)

Ok, it’s not just any house. It’s Richard Neutra’s Kaufmann Desert House, auctioned off for $15 million last week, and originally estimated by Christie's to sell for $25 million. NPR reported last week that with the housing market going down in flames, "certain properties are being…auctioned as art." However, "it helps when they have a name like Richard Neutra or Louis Kahn attached to them.” Check it at All Things Considered.