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> John Aaroe said, “I have been in this market for over 30 years and have never seen the level of growth that the luxury market has experienced in the past year

by nly 12y ago

> John Aaroe said, “I have been in this market for over 30 years and have never seen the level of growth that the luxury market has experienced in the past year, with no end in sight.” Hyperbole, or truth? and why?

jahnu 12y ago
The top 0.1% are doing really really well http://equitablegrowth.org/research/exploding-wealth-inequality-united-states/ http://equitablegrowth.org/research/exploding-wealth-inequal...
- pgl 12y ago
  I think the top 0.1% are always doing really well, by definition, no?
  - crispweed 12y ago
    No. If all were equal the top 0.1% would be doing exactly as well as everyone else.
    - icebraining 12y ago
      Then how why would they be the "top" 0.1%? If everyone is equal, there is no "top".
      - b3tta 12y ago
        Sssh! Don't disturb their precious dreams. The patriarchy will win if you do!
      - ema 12y ago
        s/equal/almost equal/. There still can be a top 0.1% even if they only make 101% of what the bottom 0.1% makes.
      - lultimouomo 12y ago
        > Then how why would they be the "top" 0.1%? If everyone is equal, there is no "top". Start from: If all were almost equal the top 0.1% would be doing more or less as well as everyone else. Then take the limit for almost -> exactly
    - pgl 12y ago
      What would make them the top 0.1% then? "If all were equal" - but it's not.
  - jahnu 12y ago
    Well yes but they continue to be doing even better than they have been for a long time thus growing the luxury property market at rates not seen since perhaps the roaring 20s.
dagw 12y ago
Despite all the focus on the losers in the rising inequality, it is equally true that is easier (in very relative terms) than ever before for basically anybody in the world to amass huge wealth. Basically you're getting a lot of new rich people who don't have all the rich people toys in their family already and they need to stock up quickly.
waterlesscloud 12y ago
Always assume a real estate agent in engaging in hyperbole, but... In the last year or so I've seen a lot of houses in Hollywood Hills / Beverly Hills purchased, demolished, and rebuilt from the ground up. Needless to say, that's quite an expensive endeavor. Compared to a few years ago when houses in the same area sat on the market forever, it seems like things have taken a turn for the better.

by nly 12y ago

jahnu 12y ago

The top 0.1% are doing really really well http://equitablegrowth.org/research/exploding-wealth-inequality-united-states/ http://equitablegrowth.org/research/exploding-wealth-inequal...

pgl 12y ago
I think the top 0.1% are always doing really well, by definition, no?
- crispweed 12y ago
  No. If all were equal the top 0.1% would be doing exactly as well as everyone else.
  - icebraining 12y ago
    Then how why would they be the "top" 0.1%? If everyone is equal, there is no "top".
    - b3tta 12y ago
      Sssh! Don't disturb their precious dreams. The patriarchy will win if you do!
    - ema 12y ago
      s/equal/almost equal/. There still can be a top 0.1% even if they only make 101% of what the bottom 0.1% makes.
    - lultimouomo 12y ago
      > Then how why would they be the "top" 0.1%? If everyone is equal, there is no "top". Start from: If all were almost equal the top 0.1% would be doing more or less as well as everyone else. Then take the limit for almost -> exactly
  - pgl 12y ago
    What would make them the top 0.1% then? "If all were equal" - but it's not.
- jahnu 12y ago
  Well yes but they continue to be doing even better than they have been for a long time thus growing the luxury property market at rates not seen since perhaps the roaring 20s.

dagw 12y ago

Despite all the focus on the losers in the rising inequality, it is equally true that is easier (in very relative terms) than ever before for basically anybody in the world to amass huge wealth. Basically you're getting a lot of new rich people who don't have all the rich people toys in their family already and they need to stock up quickly.

waterlesscloud 12y ago

Always assume a real estate agent in engaging in hyperbole, but... In the last year or so I've seen a lot of houses in Hollywood Hills / Beverly Hills purchased, demolished, and rebuilt from the ground up. Needless to say, that's quite an expensive endeavor. Compared to a few years ago when houses in the same area sat on the market forever, it seems like things have taken a turn for the better.