Too Much Of A Good Thing: NYC, LA, And Miami Have Too Many Uber-Rich Properties
- 5 years ago
High-end properties in New York City, Los Angeles, and Miami are gathering dust on the real estate shelf.
In Miami, Latin American buyers have less buying power in the US than they used to.
The threat of rising sea levels and the preference for large houses are also shaping the trend.
New York has an over-saturation of penthouses, and Los Angeles has a glut of mega-mansions.
According to Business Insiders, real-estate agents are going to great lengths to get properties off the market.
In Miami, Latin American buyers have less buying power in the US than they used to.
The threat of rising sea levels and the preference for large houses are also shaping the trend.
New York has an over-saturation of penthouses, and Los Angeles has a glut of mega-mansions.
According to Business Insiders, real-estate agents are going to great lengths to get properties off the market.