"In the megahome market, $100 million is the new $50 million," CNBC reports. News that hedge fund founder Barry Rosenstein is buying an East Hampton, N.Y., property for $147 million prompted Bloomberg News to declare, "The U.S. trophy-home market is shattering price records this year." Get the full story on NPR here.
So, forget the megahome market for a second. Bloomberg shares another interesting tidbit: "The world's richest people are moving cash to real estate as they seek havens for their wealth. In the U.S., an improving economy and stocks at a record are bolstering confidence among the affluent. Home purchases of $2 million or more jumped 33 percent in January and February from a year earlier to the highest level for the two-month period in data going back to 1988, according to an analysis by DataQuick."
Have you ever seen Forbes list of the most expensive home sales in U.S. history? I can dream, can't I?