Elbow Room The older affluent are opting to downsize, compared with the vast swaths of square footage some of their younger counterparts of means are after – 23 percent of them want at least 20,000. / Source: Luxury Portfolio International
A new generation of affluent homebuyers powered by a surge in inherited wealth is driving the luxury-home market, demanding larger spaces and fancier finishes, according to a report heralding “the rise of the new aristocracy.” Prospective homebuyers under 50 account for most of those shopping for homes priced at $1 million or more, according to…
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