The New Rich Are Building Bigger
Unique Homes publisher Rick Goodwin is quoted extensively in this BusinessWeek article released today. The piece focuses on the increasing amounts of money spent on estates worth $10 million or more, despite a slowdown in the real estate market at the lower price levels.
“These are trophy properties,” says Goodwin. “They’ve won the game now, and this is their prize.”
“We always joke about new money being garish, but I think that’s more of the old money being jealous that they can’t let go like that,” he says.
To read to entire article, go to:
http://www.businessweek.com/bwdaily/dnflash/content/jun2007/db20070626_819685.htm
