The wealthy gettting wealthier … ironically doesn’t translate into as robust a sales in high end properties. Why, overall they dont have much of their investment money tied in RE and dont like to do so, and even more importantly, they already live in the area, and they will not buy it just to sit it idle and will not buy to rent it.
For more robust RE sales in wealthy areas you need more people joining the ranks of the wealthy. When that happens, I’d buy the idea that high end RE never goes down.
Now lets see what do I do with these 2 unbelivably cool La Jolla houses, as we all know I live in the palace at La Jolla … I think I’ll rent them out. Yea … see that doesn’t even sound right.
Cool.
Cow_tipping.
