There is a growing segment of buyers who are capable of spending so much money that they pay prices that have no bearing, really, on the usual rules of supply and demand
Mon, Oct 20, 2014 - 5:50 AM
In some New York neighbourhoods, such as the one along 57th Street in Manhattan known as Billionaires' Row, apartments with Central Park views have fetched in excess of US$30 million.
RISING home values around the country are welcome news six years after the housing market collapsed. But there is a growing segment of buyers who are capable of spending so much money that they operate in rarefied space, paying prices that are rising into the tens of millions of...