Hey guys, interesting stat for you:
Luxury housing is soaring! It's up 81% from the number of transactions from last year to now.
Now why would that be?
The answer is if you look at the luxury housing market in most areas of the country, you could not build that luxury home for what you're paying for it today. Because construction costs and land development costs have gone so high.
When people with money are looking at these listings, they're saying, "Hey, wait a second. This is an opportunity. This is a market opportunity for me to buy, because I know I couldn't build it for the same price."
They're actually buying at a discount in their minds. Even though prices have risen, they haven't outpaced what it would cost to build these luxury houses.
So this is still an opportunity. It's a market space. And a lot of people haven't focused on it. But there's a lot of great, great buys within the luxury market space.
So check it out,...
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