Archives: June 2013

New Money, Old Problem

Earlier this week, Bloomberg’s Sarah Shannon reported from London that the famous Harrods department store is seeing what store executives call record sales — courtesy largely of wealthy Chinese nationals. As Shannon writes, Americans are no longer in the top 10 of Harrods’ foreign customers, while buyers from China are “by far No. 1.” On […]

Mansion Shortage Could Slow Sales In Rich Towns

Wealthy home buyers are quickly running out of mansions to buy. While housing inventory is falling throughout the country, it’s falling especially fast in some of the country’s richest ZIP codes. A study from Altos Research, the Mountain View, Ca., real-estate research firm, found that inventory in the nation’s 90 wealthiest ZIP codes fell 15 […]

Turn Up The Heat

The sweltering summer is the time when many avoid South Florida, but Miami’s high-end pre-construction condo market shows no signs of taking a breather. “I never expected the market would have a summer like this,” says broker Mayi de la Vega, founder and CEO of One Sotheby’s International Realty, who has already secured $100 million […]