That $500 million home for sale in LA

Caption:SAN FRANCISCO - DECEMBER 28: A sold sign is seen in front of a recently purchased home December 28, 2006 in San Francisco. Existing homes reportedly inched up 0.6 percent in November as home prices continued a downward slide for the fourth consecutive month. The median home price for an existing home in the United States dipped to $218,000, down 3.1 percent comparing to the same month one year ago.

Real estate is expensive in LA, but it’s got nothing on the $500-million house in Bel-Air.

Housing prices keep going up in Southern California, making homeownership out-of-reach for many Angelenos.

As the city and state tackle the housing crunch and affordable housing issues, one of the most expensive homes in America is on the market right here in L.A.

It’s a behemoth in Bel-Air that features 20 bedrooms -- the largest one clocks in at 5,500 sq ft, four swimming pools, and a commercial-size beauty salon.

And the asking price? Just $500 million dollars.

Would a listing like this change the high-end real estate game in L.A.? Could this spur a nuclear arms race of over-the-top houses? Who might actually buy such an expensive building?

Guests

Candace Jackson, journalist and author of the NY Times piece looking at the $500-million Bel-Air house

Alice Kimm, architect and cofounder of LA-based architecture firm, JFAK

Brent Chang, co-founder and estate director of Compass Real Estate, Pasadena; they specialize in luxury properties in the eastside of Los Angeles