Posted on 02/29/2024 9:08:09 AM PST by george76
One-quarter of American ultra-high-net individuals plan to buy a home this year...
The ultrawealthy ranked “lifestyle” and “investment” at the top of their list of priorities, followed by taxes and safety...
....
One-quarter of American ultra-high-net individuals, or those worth $30 million or more, plan to buy a residential property this year, according to the Douglas Elliman and Knight Frank Wealth Report. The average ultra-high-net-worth individual already owns four homes, according to the report. One-quarter of their residential portfolio is outside their home country.
When it comes to priorities for their next big purchase, the ultrawealthy ranked “lifestyle” and “investment” at the top of the list, followed by taxes and safety.
...
Last year, the world’s top 100 luxury real estate markets posted a solid 3% gain on average price. The best-performing luxury real estate market in the world was Manila, Philippines, with 26% growth, fueled in part by investors fleeing Hong Kong and China. Dubai came in second place, at 16% price growth, followed by the Bahamas at 15% and the Algarve region in Portugal at 12%.
Among the worst performers last year were New York, with prices down 2%, and San Francisco, basically flat at 0.5%. The biggest decline in the world among prime markets was Oxford, in the U.K., down 8%.
...
$1 million doesn’t buy what it used to in the U.S. and abroad. In Monaco, the world’s most expensive real estate market, $1 million gets you 172 square feet of prime real estate... In Aspen, you get 215 square feet, while in Hong Kong, you get 237 square feet, which makes New York look like a bargain with 367 square feet.
(Excerpt) Read more at cnbc.com ...
The ultra-rich are doing great with Biden.
The elites love money printing.
When it comes to super-successful people, this place sounds like a Dem-commie site.
Dems are the party of the Ultra-Rich, don’t let their rhetoric fool you.
Many of today’s “conservatives” don’t understand and dislike Capitalism.
Win half a billion off a Powerball ticket, great.
Become a billionaire playing a kid’s game, fine.
Become a billionaire by risking your nest egg and financial future to help companies create jobs and products, which helps others succeed, leading to your own success, you are an elite and to be looked down upon, even as you benefit from what they have done.
And the word “elite” is all it takes to set them off with hate. Capitalism is dead if “conservatives” hate it. I see it every day, the Commies are winning the mind game of zero-sum thinking.
Problem is we have too many “idle rich”, who have no concept, nor appreciation as to how that wealth was built.
I'm shocked I tell you - shocked /s
Give me populism and nationalism. Screw communism and capitalism.
Ever hear the old saying?
Under Communism, Man exploits Man. Under Capitalism, it's the reverse.
I’m for Free Enterprise.
What we have now ain’t Free Enterprise.
All the manufactured crises, and the government responses, have sought to drive out small businesses in favor of large. The enormous regulatory burdens, increasing cost for entry-level labor, increased costs for everything...
I care more about individuals who want to work for themselves, but have to spend half their time satisfying an onerous regulatory paperwork burden that does nothing but guarantee jobs for worthless government bureaucrat leeches.
Old-timey "billionaires" gave us cheap energy and transportation and mobility, and a higher standard of living. Today's billionaires give us government surveillance and mind-control.
Maybe things change?
“Problem is we have too many “idle rich”, who have no concept, nor appreciation as to how that wealth was built.”
Meaningless. You have no idea what people do with their money, and as long as it’s lawful they can do whatever they want with it, including ‘nothing’, which is kind of hard. Even money in the bank is helping others do business.
Feudalism is back in style. No one else can afford a home.
I understand that any “cure” for this, will be worse than the disease, but it is a disease, just the same.
“Maybe things change?”
What has changed is the take on Capitalism, it’s now a “bad” thing even amongst some conservatives.
And it’s all based on jealousy and looking for excuses for one’s own shortcomings. The commie take on Capitalism is winning over conservatives.
It’s good to be old. The future doesn’t look inviting.
It's the realization that the game is fixed in favor of the super-rich.
If the COVID debacle didn't reveal that to you, then maybe you're too old to form new, apt, opinions.
Instead of worshipping "Capitalism," I worship Freedom.
If you know of anyone in government supporting that, please let me know.
What I do not understand is when people on this site disparage people like Larry Ellison or some other billionaire that is buying up every bit of land he can on Hawaii.
IF I was a billionaire, I would be doing the same thing. I would buy 1000 acres on the north side of the Big Island and only let the local ranchers use it to graze their cattle on. In exchange for some free beef and privacy.
IF some Billionaire wants to build a mansion he is going to employ hundreds of people in the process. Roofers, plumbers, framers, flooring, drywall, concrete, landscapers, pool installers, etc. Not to mention all the people who work in the factories of Marvin Windows and doors, Cabinet companies, flooring manufacturers, etc. Making all the crap to go in the mansion.
Then the billionaire is going to need some toys to get around on their estate. He is going to buy a couple side by sides, a Kubota tractor or two, a Skag commercial mower, a Ferrari, and a pickup Truck.
Then he will need a new Sikorsky Helicopter, a hanger and a pilot to get to his estate.
Then he is going to employ a maid, a chef, one or two grounds keepers, a pool service and a security company.
The amount of money one Billionaire contributes to the economy is more than most of the Freepers combined.
That I don’t take issue with. But on the other hand do you want one person to own all the farmland in the country?
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