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Old 03-09-2008, 06:34 PM
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Luxury Homes Buck the Trend

The overall housing market might be in bad shape, but at the very top luxury homes are still setting record prices

http://businessweek.com/lifestyle/content/mar2008/bw2008036_186035.htm?chan=top+news_top+news+index_businessweek+exclusives

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Old 03-09-2008, 07:15 PM
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Quote:
Originally Posted by Skid Row Joe View Post
The overall housing market might be in bad shape, but at the very top luxury homes are still setting record prices
.......because starvation is God's way of punishing those who have no faith in Capitalism.
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Old 03-09-2008, 07:39 PM
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The overall housing market has stopped at a peak that is unprecedented - it's not in bad shape, it's just no longer climbing.
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Old 03-09-2008, 07:57 PM
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The luxury and ultra-luxury end of all consumer goods has always "bucked the trend" and real estate is probably one of the most resistant. The inhabitants of Richistan don't need mortgages.
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Old 03-09-2008, 08:29 PM
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That level is not really affected by the economy. Its like Hinkley not giving a damn about the price of fuel; because the average buyer of a Hinkley doesn't give a damn if diesel is $2 or $6 at the dock.
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Old 03-09-2008, 10:37 PM
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Quote:
Originally Posted by Jim B. View Post
.......because starvation is God's way of punishing those who have no faith in Capitalism.
LMAO!

When I move back in with my parents, I'm going to start building $500K+ spec. homes............two at a time.
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Old 03-09-2008, 11:14 PM
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$600k+ in this area. The $400-$500k range is no mans land, and DOA. the $400k and down is so so. $600k spec homes are selling rather well.

The last one my uncle sold the people paid 50% in cash.

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