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Friday, March 6, 2009
Expensive Greenwich Houses For Sale Skyrocket
The latest report from Prudential, courtesy of For What It's Worth, shows an eyepopping increase in the inventory of $6 million+ houses for sale in Greenwich, CT, growing at 164% in 2009 compared to 2008. While the total inventory increased by a manageable 22%, the heavy weighing toward the rich end of the spectrum is troubling. Seeing how buyers for the under $1,000,000 category are rarer than hen's teeth, the likelihood of newly liberated SAC psychologists of HR managers purchasing at 6 times that price is also 6 times less likely.
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3 comments:
I'd have guessed you would care more about, and have a more interesting comment on, Scholes recent recommendation to tear up OTC derivatives. http://www.bloomberg.com/apps/news?pid=20601087&sid=aBDLzTYzuxl0&refer=home
tsk patience people. everything will be presented. there are two whole prebailout days to fill with links.
but keep em coming.
an mr scholes will not be spared when if/when we get to his crusty, petrified and frankly irrelevant opinion on cds
btw, for those who really can't wait, working on exposing a major financial co with $19bn of debt and cds trading just north of 100bps for the true GECC type failure it is... stay tuned.
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