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Where Inflation Is the Highest and Lowest in America | CNN Business
The luxury property market in the USA is rebounding, with property valued at 0.1 billion US dollars expected to double in sales this year.
According to the latest report, the sales of properties worth 0.1 billion dollars are expected to double this year, mainly due to the strong performance of the financial market and people's expectations of interest rate cuts, which has promoted the recovery of the ultra-luxury real estate market. This is in sharp contrast to the sluggish national real estate market in the United States, which still faces problems of high interest rates and shortage of housing. Cities such as Manhattan, Palm Beach, and San Francisco have seen many transactions in ultra-luxury property trade.
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The US housing market has left almost everyone at a loss, except for super-rich people who are able to handle it with ease.
The United States real estate market is currently in one of the weakest periods of affordability in decades, resulting in stagnant sales of residential real estate and eager buyers being turned away. However, there is a group that remains unaffected by this crisis, and that is the wealthy. Overall, the performance of this crucial selling season in the United States is concerning. Following a 15% decline in May, new residential sales in June fell slightly and well below expectations; at the same time, existing home sales have declined for the fourth consecutive month. According to the National Association of Realtors (NAR) in the United States, the only bright spot in the market is luxury homes, the only category to achieve growth in sales in June across all price ranges.
Real Estate Market Is Broken for Everyone Except the Ultra Rich