Posted on 07/17/2021 2:19:43 PM PDT by dynachrome
Prices in Florida’s ultra-rich Palm Beach community hit an all-time high in the second quarter, as brokers grappled with a record-low number of mansions to sell.
The average price for a single-family home in Palm Beach hit $11.7 million in the quarter, up 38% from a year earlier and marking a new high, according to Douglas Elliman and Miller Samuel. Brokers say the flow of wealthy hedge funders, private equity chiefs and other executives in finance moving from New York and other finance capitals has created a sharp rise in demand and prices for a market already known for its outsized wealth.
“This is a whole reset of the market,” said Jonathan Miller, CEO of Miller Samuel, the appraisal firm. “We’re now seeing $50 million transactions on almost a weekly basis. That’s a big change. And it appears to be sustainable.”
(Excerpt) Read more at cnbc.com ...
Military Tents , that’s the ticket
I know someone who can build you some more.
He lives in Mar a lago
The mansions must all be built on stilts — global warming, you know.
>>The mansions must all be built on stilts — global warming, you know.
And have “affordable housing” set-asides included in their plans.
This, and the income of rock stars and sports celebrities, is the dark side of a free market. It’s the price that must be paid, and it’s worth it.
I wonder how the prices of the apartments in Upper West Side Manhattan are doing right now. Skyrocketing murder rates, assaults etc etc.
“Brokers say the flow of wealthy hedge funders, private equity chiefs and other executives in finance moving from New York ...”
Must have been hundreds of thousands of people take a bath to make these bastards so filthy rich.
There are lines around the block for apartments in all of NYC and people are signing leases sight unseen
Single digits?
Hey, nice apartment, man! But I wouldn’t leave if I were you. Just order delivery for everything. And don’t go near the windows, just in case.
But yeah, great pad, man.
First World Problems
Do they plan on paying rent?
I just heard today that something like 70% of NYC renters are not paying their rent.
Alinsky, or is it Cloward and Piven, or all of the above? Collapse the system, then offer solutions.
Plenty of condos down Miami way coming on the market, real cheap!
What’s happening in Manhattan?
Yeah?
On what planet is that?
NYC Rents and Home Prices Continue to Fall, With No End in Sight
https://streeteasy.com/blog/nyc-real-estate-prices-continue-to-drop/
“Rents in all NYC boroughs analyzed fell at the fastest year-over-year pace on record, dropping 15.5% in Manhattan and 8.6% in both Brooklyn and Queens. The median asking rent in Manhattan was $2,750 — the lowest it's been since March 2010. In Brooklyn, the median asking rent in January was $2,395; in Queens, it was $2,000.”
https://streeteasy.com/blog/nyc-real-estate-prices-continue-to-drop/
Maybe Chinese.
Running out of mansion in Palm Beach
Well merde. I should have bought one last year.
See # 16 and 17 from me.
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