August 12, 2009
The amount of luxury homes in foreclosure is still rising sharply, and many of these are substantial developments, let alone the private foreclosures. The recent spate of foreclosures in the lower and middle segments of the real estate market is spreading inexorably through the high end now. These are a few recent ones, showing the depth of the problem, and the fact that this is a world-wide issue. It is difficult to predict the bottom of the problem, but one thing is clear – the luxury sector is by no means immune.
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