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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (7309)12/12/2002 5:56:37 PM
From: Elroy JetsonRead Replies (1) | Respond to of 306849
 
I believe foreign money is significant when you consider the market for $5 million plus homes in the Beverly Hills / Westside home market.

It's somewhat akin to London where apart from Mrs Guiness in her Knightsbridge mansion, most large homes are not owned by the English. It's easier to amass the $5 million cash needed for a vacation home in countries without income tax.

Hmmm, I guess strictly speaking, even Mrs Guiness is Irish and not English.


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