Economic uncertainty fueled by rising interest rates, volatile stocks and frothy prices is leading to a luxury slowdown, with a housing bubble in Austin near bursting
A Manhattan penthouse is on the market for $25 million. Unless buyer activity picks up significantly, it may be taken off the market for the summer.Two years ago, Austin real-estate agent Amy Deane, of Moreland Properties, was working with so many wealthy out-of-state buyers that she showed one $15 million house five times in 30 days. Now, she might get one call every other week for showings in that price range. “That big buyer pool has slowed down,” she said.
After an epic two-year run—not just in Austin but in major cities around the country—the luxury real-estate market is finally cooling.
Rich people
Good. I hope it bursts before the hedge fund managers get out
Aye JimmyRex what’s your opinion here?
Lake Travis is the goal
The carpet baggers are abandoning their smoldering cesspools, having learned nothing.
RussianCollusionHoax continues
Which three state have bubbles in RealEstate ?