The most expensive home listed for sale globally is in Bel Air, a neighborhood in Los Angeles. Its main house is a 74,000-square-foot monstrosity. Among the special attributes: a 30-car garage. The compound, being erected by speculative builder Nile Niami, has an asking price of $500 million. Seven of the world’s 10 most expensive listings…
Housing
Ultimate Market Timer Sam Zell: “Know What the Problem Is?”
by Wolf Richter • • 34 Comments
Silicon Valley Housing Market Hit as Chinese Money “Dried up”
by Wolf Richter • • 30 Comments
Manhattan Luxury Condo Sales & Prices Fall
by Wolf Richter • • 25 Comments
In Lower Manhattan, 31 towers with over 5,000 apartments are sprouting up. They’re not exactly in the “affordable” category. The median price for condos – half sell for more, half sell for less – has soared 77% since 2013, to $2.43 million, while the median price in the overall Manhattan condo market has shot up…
The Hong Kong Housing Market Fizzles
by Wolf Richter • • 42 Comments
Canary in the US Housing Market: Canadian Snowbirds Cash Out
by Wolf Richter • • 31 Comments
San Francisco’s Epic Condo Construction Boom
by Wolf Richter • • 31 Comments
Few housing markets are crazier than San Francisco’s. But what had to happen is starting to happen: while house prices continue to soar, a phenomenal building boom is causing a condo glut that will reach dizzying proportions as new condo towers are completed. And now the dynamics of the market have reversed. The median condo…