Ultra-rich Americans are selling off luxury real estate faster than they’re snapping it up, and it’s not the only change they’re making to their portfolios as recession fears linger
|09/19/2019||Posted by BusinessMediaguide.Com under General World News||
- Ultra-wealthy people in the US are selling their luxury real-estate investments faster than they are buying new ones, TD Wealth senior vice president and regional investment director James Beam told Business Insider.
- The move comes as fears of a potential recession linger.
- There is a surplus of mega-mansions in Los Angeles, luxury condos in Miami, and penthouses in New York City, Business Insider previously reported.
- Foreign investors are also spending less on properties, a July 2019 report by the National Association of Realtors found.
- Visit Business Insider’s homepage for more stories.
Recession fears are mounting, and it’s affecting what the ultra-wealthy read more >>>