Business

America's Most Expensive Houses

Not every sector of the housing market is tanking; high-end real estate sales are surprisingly strong. A look at the country's priciest residences.

The subprime mess has wreaked havoc with the U.S. housing market. Well, at least most of it. Sales of luxury homes from Beverly Hills to Bridgehampton have remained surprisingly strong. According to market data from DataQuick, home sales for $5 million and above climbed 31 percent in the first quarter of 2007, compared with the same quarter in 2006. Sales of Manhattan apartments costing $10 million or more tripled in 2007, according to the real estate company Prudential Douglas Elliman. A look at some of the country's costliest homes.

 
 
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  • Posted By: mehere08 @ 10/29/2008 12:22:01 PM

    Obama doesn't know how to fix the economy either. His economic advisors are from Freddie/Fannie and they obviously know what they are doing. The President can't know everything. He/She builds a team that has the knowledge and experience to handle these tough issues and advise/recommend courses of action.

  • Posted By: lucky john @ 09/25/2008 8:05:00 AM

    When you have to catch a bus from bedroom to kitchen ...why would you bother..?

  • Posted By: cani77 @ 09/17/2008 10:30:22 PM

    In a few weeks we will make a choice that will decide our future.
    I follow a economist named bob proctor who has called the top and bottom of every market crash since the 70s correctly.
    He perfectly predicted the current real estate market meltdown ,and the picture he paints about what will happen in the next couple years
    Is terrifying. He thinks it could get worse then the great depression.
    Banks in the US are going under one after the other. Country wide the largest morgage bank in the world
    Bear Stearns and Lehman brothers , and Merrill Lynch which are 3 out of the top 5 wall street firms.
    And now Fanny and Freddy which hold 50 percent of the home loans in the United States.
    The goverment took them over because they are essentially bankrupt.
    If they didn't the entire financially system would virtually shut down, the stock market would crash
    And we would suffer beyond what any of us have seen before
    The future of these companies will fall into the hands of our next president
    Lehman, Merill Lynch, and Bear Sterns have survived for over 150 years and survived even the great depression
    They are important because the are the biggest engines of growth in america and
    they are connected to almost everything.
    The last time the real estate market numbers looked this bad was during
    The great depression and real estate often leads the way into major economic recessions.
    Bush just like Mcain doesn't understand the economy.
    That not just my opinion its his own words. Not only does he not understand how to fix itHe does not understand exactly what is broken.Its no surprise that he doesnt. The people that make up these securities use complex math models very few people understand.They are basically bundles of thousand of loans some good and some bad that are then given rules based on complex math. It will take the best and brightest minds in the world to get us out of this, and the same things bush and mcain have done for the last 8 years
    Have not worked so far and wont work in the future.
    if you do what you have always done then you will do get what you have always got
    90 percent of the time they have voted the same.
    Please don't just take my word for it Start to read up on some of this yourself. MSN money, elliot wave and, bloomberg Have tons of articles That prove we are in the heading into one of the worst economies any one has ever seen. So why are the polls even close then ?
    The chairman of mcains campaign recently said that people don't vote on issues
    they vote on a personality composite which means. He is trying to sell personality instead of results.He believes people will vote against there own self interests.
    Lets teach him we are smarter then that and elect the ticket that can
    bring us back from the brink of a economic abyss.Mcain admits in the year 2008 he cannot use a computer even to send email.It impossible then that he understands how to help us. its time to wake up now while it will still help


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