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Staggering new report: ‘A Look at Wealth 2021: Real Estate’s New Power Players’
Today, nearly three times as many individuals with a $5 million+ net worth own $1–$5 million in real estate, compared to the numbers in 2019 — that’s a 180{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} increase in luxury property ownership. How did we reach such unprecedented growth in a three-year period? What power groups drive this demand, how do they redefine luxury and what should luxury real estate professionals know as they seek to serve clients in this new buying climate? Our team at Coldwell Banker Global Luxury® once again looked to WealthEngine, Wealth-X, and The Institute for Luxury Home Marketing to compile the data for “A Look at Wealth 2021: Real Estate’s New Power Players.”…
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Staggering Wealth Growth Drives Luxury Real Estate’s New Power Players, Coldwell Banker Global Luxury Report Reveals
The 2021 “A Look at Wealth” report profiles four Power Player demographics who are reshaping the wealth groups, marking shifts in home buying and lifestyle trends MADISON, N.J., Oct. 25, 2021 /PRNewswire/ — Today, Coldwell Banker Real Estate LLC, a Realogy (NYSE: RLGY) brand, and the Coldwell Banker Global Luxury® program released the “Real Estate’s New Power Players” report, part of the annual “A Look at Wealth” series. The luxury real estate market is seeing yet another dynamic year. Staggering wealth growth – driven by rebounding stock markets, cryptocurrency gains and higher 401(k)s – combined with soaring home prices and low interest rates meant buyers borrowed and saved more while…
