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  • Luxury: The Next Bubble To Pop [View article]
    I agree--the uber-rich market is limited here in the US to the 50,000 or so you posit, and many uber-wannabes are getting hammered in this market.
    A recent piece in the WSJ on the Greenwich real estate market confirms this. And since this economic tsunami is centered within the banks and brokerages--two huge engines behind uber-wealth creation--it only stands to reason that these former masters of the universe are going down into the financial foxhole with the rest of us. Layoffs on Wall Street this year are in the tens of thousands, with no end in sight, and Mayor Bloomberg has already warned of tough days ahead for NYC as a result.
    Sep 07 23:42 pm |Rating: 0 0 |Link to Comment
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