Write Lightning is a blog from writer Deb Thompson.
Everyone is welcome here.
(Some links or topics may not be completely kid-appropriate.)
Everyone is welcome here.
(Some links or topics may not be completely kid-appropriate.)
Wed, May 21 2008
Low end of higher-priced homes may be in a cooldown period
Even with a downturn in the housing market, luxury homes usually sell well in our state. That may be changing a bit this year, at least in the lower end of the luxury market. It wasn't so long ago that a million-dollar home in California was considered part of the luxury market, but now it seems that homes in that range are not out of reach for the buyer who is moving up a bit. That probably makes the higher end luxury homes more attractive to those who can afford them. There's probably a psychological aspect to all of this, as well as a practical one. If many people own a million-dollar home, a buyer thinking toward high-end luxury is going to be tempted to dish out serious money in order to stay above the average buyer in terms of what they perceive to be luxurious.
posted at: 08:11 | category: /Miscellaneous | link to this entry
Even with a downturn in the housing market, luxury homes usually sell well in our state. That may be changing a bit this year, at least in the lower end of the luxury market. It wasn't so long ago that a million-dollar home in California was considered part of the luxury market, but now it seems that homes in that range are not out of reach for the buyer who is moving up a bit. That probably makes the higher end luxury homes more attractive to those who can afford them. There's probably a psychological aspect to all of this, as well as a practical one. If many people own a million-dollar home, a buyer thinking toward high-end luxury is going to be tempted to dish out serious money in order to stay above the average buyer in terms of what they perceive to be luxurious.
posted at: 08:11 | category: /Miscellaneous | link to this entry
