Luxury Home Prices Respond

The last year gave us data that showed that the luxury market seems to be responding pretty well to the recovery post recession. Although the market is not anywhere near where it was at the peak, many areas have seen considerable ground made up over the last year, as reported by the Los Angeles Times.

Southern California, as we all know, has some of the most luxurious and expensive housing in the world, and last year was proof as we saw the Spelling Estate go for $85 Million dollars.

Also, entertainment stars such as Jennifer Aniston made moves that brought in astonishing closes! Southern California truly is like no place on earth, and the real estate market here remains one of the most fascinating in the country to follow, never mind to be a part of….

The Forecast for the Coming Year

As for the forecast for the coming year, data continues to pour in that both solidifies the fact that this new economy seems to be normalizing, and that our country has responded, once again, to the turmoil of the times.

What will challenge not only the national economy, but also the world economy is the fact that we’re now in a situation where fellow first world countries such as the members of the EU play a vital role in coloring the global economy. It’s difficult to say whether or not the global economy will stabilize over the coming months, and in many ways what happens in Greece is arguably as important to Los Angeles real estate as it ever was.