The slowdown in the housing market hasn’t spared the super-rich. From the ritzy suburbs of Beverly Hills to the glitzy Manhattan skyline, luxury real-estate has felt the heat from the broader sector’s weakness.
Particularly with mortgage interest rates double where they were last year and the flow of new listings slowing, ultra-luxury real-estate has taken a hit, Mauricio Umansky, a Los Angeles-based real-estate entrepreneur and TV reality-show personality, told MarketWatch.
“The…
This post was originally published on Market Watch
