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
How One Luxury Developer Is Spicing Up L.A. Real Estate Open Houses | Hollywood Reporter
L.A. developers have a big problem: Too many new megamansions
Ivan Kaufman buys Bridgehampton’s Three Ponds Farm for around $35M
In the High-Flying Hamptons, Real Estate Is in a Rut – The New York Times
Sydney real estate: $66 million luxury penthouse on the market for 12 months | 7NEWS.com.au
London Homes Sell at Ever-Growing Discounts in Market Rut – Bloomberg
High Taxes and Government Debt Have Soured Chicago’s Housing Market
Fed holds interest rates steady as economy grows at ‘solid rate’ and inflation stays low – MarketWatch
30-Year Fixed Rate Mortgage Average in the United States | FRED | St. Louis Fed