High-End Real Estate Starting to Enter Crash Mode

The high-end market in Connecticut is starting to decline. The hedge fund manager Stanley Druckenmiller bought his estate in 2004 for $23 million. He had it on the market for $31.5 million. The best offer he got was $25 million. He took the money and ran. Smart move! With a real estate tax of about $154,000 annually, looks like a break-even deal after 13 years.

 

The high-end real estate boom is now turning sour. We are looking at property values declining in London, Australia, New Zealand, Hong Kong, New York, and even Miami. The shift will now turn toward MOVABLE assets as capital departs from the fixed asset class.

Latest Posts

Pilotless Air Taxis Have Arrived

The technology coming out of China is quite remarkable. China has unveiled the world’s first pilotless air taxi service. The Civil Aviation Administration of China (CAAC) issued Air Operator Certificates [...]
Read more

Living on the Edge

The U.S.-China trade war is an ongoing economic conflict that began in January 2018, characterized by the imposition of tariffs and trade barriers by both countries. Recently, tensions escalated as [...]
Read more