We’ve written about it time and time again, but the high end of the real estate market is feeling the pinch of the downturn and will likely take a long time to stabilize. Here’s an article from USA Today citing some causes for the slowdown in the upscale residential market, and how this has impacted real estate, retailers, and the overall economy.
The high end seemed to show resilience when everything else was crashing and burning around it. But now we’re seeing that it is not immune, it just held out longer. And it won’t correct quite as fast as the low end… which is showing signs of stabilization right now.
Take a look at the full article HERE.
Even America's wealthiest are changing their ways, dining on dollar menus.
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