Where as in countries who have had their very healthy cycle correction:
"Sales of homes listed at $2 million and above fell 16% in the first quarter, the sharpest annual decline since 2010, according to Redfin, a real estate brokerage.This as the supply of those homes rose 14%, marking four straight quarters of annual increases in inventory.The average price of a “luxury” home, which Redfin defines as the top 5% in each of the 1,000 cities it tracks, fell 1.6% to $1.55 million. Nonluxury homes saw their average price rise 2.7% annually to $300,000."
Why would you buy in Bellevue Hills when you could get genuine luxury in New York or Paris for far less.
