There's an abundance of luxury real estate across the US, and it may be a warning sign for an upcoming recession, reported Robert Frank for CNBC. New York City penthouses, Miami condos, LA mansions, and luxury ranches out west aren't selling. But the picture is bigger than that: The wealthy are spending less overall in the US, from retail to houses, and it could threaten economic expansion, an economist told Frank. Visit Business Insider's homepage for more stories.
There's an abundance of luxury real estate across the US, and it may be a warning sign for an upcoming recession, reported Robert Frank for CNBC. New York City penthouses, Miami condos, LA mansions, and luxury ranches out west aren't selling. But the picture is bigger than that: The wealthy are spending less overall in the US, from retail to houses, and it could threaten economic expansion, an economist told Frank. Visit Business Insider's homepage for more stories.
Actually aging boomers are selling and trying to make a killing.
KariLakeFox10 Yes... because if the rich aren’t enjoying life neither should we😳 It’s a vicious cycle So we just laugh and laugh Then work and that’s why we love Friday’s so much 🤣
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Guys. The clear and obviously Recession is the recession red flag. This is an outcome not a signal.