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RE: Breaking News: "Never Seen Anything Like That!" - House Prices Crashed in The Hamptons, Aspen, and Miami
I wonder if wealthy people are selling these assets to preserve capital elsewhere as they see the writing on the wall.
@jasonstaggers - typically people who have demand are high net worth individuals from China, Middle East and Russia... countries that export.... with price of oil declining from $120 to $30-40 no wonder they can't buy it anymore. And China has its own issues with economy, anti bribes policy etc
The thing is that's how it starts and then it will drag down the rest of the property market....