1. Greenwich, Connecticut is home to the most posperous communities in America. It is 35 miles from Manhattan, home to about 60,000 residents, has 32 miles of seashore line.
2. The median household income is $135,000 compared to $56,500 for the entire country (USA).
3. "Members of younger wallstreet crowd are quite conservative." says a realestate broker (My note: Risk-taking levels are lower, perhaps, for the entire current generation, not just in wall street).
'Earlier generation, they used to say, they will strech. Now, they are more practical, they will ask what the utility bills are...and then they say they don't want it.'
That could explain, the home sales data. Upto Sept 2016, compared to 2015:
Home sales of houses with prices
upto $1mn - are up 30%
between $1mn and $2mn - are up 70%
between $5mn and $6mn - down 80%
4. Back in the day, 'everymody wanted 5 acres and pillars on their drive way, because that's what you got when you 'made it'.'
'Now 'made it' means a brand-spanking new house on a small plot on the waterfront,'
5. $250,000 S-class coupe Benz is sitting in the showroom, while models priced $70,000 are flying through the door.
Source: http://www.bloomberg.com/news/articles/2016-09-26/in-greenwich-that-250-000-mercedes-isn-t-the-hit-it-used-to-be
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