Mega Mansions Are UNSOLD as Real Estate Goes Soft!

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Why do you think the mansions aren’t selling? Slow economy? Too many on the market? Slowing real estate market?

We’ve always noted the bottom 50% of the public having economic issues. In recessions they take the biggest hit. In prosperous times, they often see almost no benefit. The richest tier however tend to get richer and richer. We see them on TV, see the extravagance, and wonder how they will ever run out of money. Today it seems as though the luxury property market is encountering some serious problems. Let’s take a look.

 

L.A. Developers Have a Big Problem: Too Many New Megamansions – WSJ

www.wsj.com/articles/la-developers-have-a-big-problem-too-many-new-megamansions-11559230837

How One Luxury Developer Is Spicing Up L.A. Real Estate Open Houses | Hollywood Reporter

www.hollywoodreporter.com/news/how-one-luxury-developer-is-spicing-up-la-real-estate-open-houses-1186752

L.A. developers have a big problem: Too many new megamansions

www.msn.com/en-us/money/realestate/l-a-developers-have-a-big-problem-too-many-new-megamansions/ar-AACbCpv?ocid=ob-fb-enus-894&fbclid=IwAR0i9VQD3ytcEahJPm1UfkS8HgNku0wqGy0QjR_PxT0DsjTJX1YxbKmlkX0

Ivan Kaufman buys Bridgehampton’s Three Ponds Farm for around $35M

nypost.com/2019/05/29/ceo-buys-over-the-top-hamptons-manse-for-around-35m-more-than-half-off/

In the High-Flying Hamptons, Real Estate Is in a Rut – The New York Times

www.nytimes.com/2019/05/17/realestate/in-the-high-flying-hamptons-real-estate-is-in-a-rut.html

Sydney real estate: $66 million luxury penthouse on the market for 12 months | 7NEWS.com.au

7news.com.au/lifestyle/real-estate/sydney-real-estate-66-million-luxury-penthouse-on-the-market-for-12-months-c-138336

London Homes Sell at Ever-Growing Discounts in Market Rut – Bloomberg

www.bloomberg.com/news/articles/2019-05-28/london-home-sellers-offer-ever-growing-discounts-in-market-rut

High Taxes and Government Debt Have Soured Chicago’s Housing Market

www.city-journal.org/chicago-housing-market

Fed holds interest rates steady as economy grows at ‘solid rate’ and inflation stays low – MarketWatch

www.marketwatch.com/story/fed-sticks-with-patient-policy-notes-weaker-core-inflation-2019-05-01

30-Year Fixed Rate Mortgage Average in the United States | FRED | St. Louis Fed

fred.stlouisfed.org/series/MORTGAGE30US

 

 

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