I read this article today at Luxury Insights:
FAST FACTS about the world’s wealthy: The wealthy are back and ready to buy real estate.
Posted: 01 Aug 2012 07:49 AM PDT
If you are seeing an increase in luxury buyers in your market, there are at least two good reasons why.
1. The number of worldwide wealthy has recovered from the 2008 downturn, when the number of HNWIs plummeted from 10.1 million to 8.6 million in just one year. The current HNWI number has risen to a record 11 million.
Total wealth controlled by wealthy households has also increased since a five year low point in 2008, rising from $32.8 million to $42.0.
These statistics from The Capgemini/RBC World Wealth Report for 2012, offer good news for luxury real estate since demand for homes depends heavily upon the number of households who can afford them.
2. The post-recession affluent are also in a home shopping mood. Research done last year by Barclay’s found that 57% of HNWIs want to increase their residential property portfolios in 2012. This buying attitude is most likely a result of lifestyle desires as well as the view that residential real estate is an investment opportunity and smart portfolio play.
Here’s what one billionaire has to say about buying luxury property now.
“Trophy (property) assets are probably the most resilient and successful investment options at the moment, and will be for the foreseeable future.”
–John Caudwell, Billionaire , 2012
Posted in affluent buyers and sellers, investing, luxury resort broker, luxury resort market, luxury resort real estate, millionaire, Telluride, wealth
Tagged Barclay, Business, High net worth individual, John Caudwell, Real estate, Residential area, United States, wealth
I recently attended the National Association of Realtors 2012 REALTOR Party Policy and Advocacy Conference in Washington, D.C. It was a very interesting and informative meeting where we heard from policy makers and congressional staff. We also made our voices heard and expressed our ongoing concerns about the housing industry.
We were pleased to meet and hear housing policy updates from Senator Robert Menendez (D-NJ), Chairman of the Senate Banking Housing subcommittee and Congressman Randy Neugebauer (R-TX), Chairman of the House Financial Services Oversight subcommittee. Both are prominent leaders in the fight to protect home ownership.
The purpose of the conference was to set our national priorities for the upcoming year. The result is we’ll be focusing on home ownership tax incentives such as the mortgage interest deduction, available and affordable mortgage financing, and a long-term flood insurance coverage program as well as appraisal and commercial lending issues. Our goal is to strengthen your housing and real estate investment and ensure that the American Dream of home ownership remains within reach for you and your neighbors, and for the generations that follow us.
Finally, we truly appreciate your business and the trust you have placed in us to handle your real estate transactions. I’ll continue working hard on your behalf to protect the future of home ownership.
George R. Harvey, Jr.
President of the Colorado Association of Realtors 2010
P.O. Box 2283. Telluride, CO 81435
Posted in buyers, financing, investing, mortgage, wealth
Tagged American Dream, Business, Financial services, National Association of Realtors, Owner-occupier, Real estate, Real estate economics, United States
I recently read this article on Inman News online…
Florida is top state, Las Vegas the No. 1 city
By Inman News, Thursday, February 2, 2012
Florida remained the most popular U.S. property search destination among foreign house hunters during the last three months of 2011, according to a quarterly report from real estate technology and marketing company Point2.
Point2′s International Real Estate Traffic Report, which debuted in December, tracks visits from non-U.S. consumers to listings pages on the company’s public-facing property portal, Point2Homes.
You can continue to read the full story here>>>
Posted in affluent buyers and sellers, buyers, investing, luxury resort broker, luxury resort market, millionaire, wealth
Tagged Bradley Inman, Business, December, Florida, House Hunters, Inman News, Real estate, United States