Sales Of High End Homes Down
The U.S. Census Bureau’s “November New Residential Sales” figures are out, and what they show tends to make one wonder about that oft repeated Occupy slogan “We Are The 99%.” Or more accurately, it calls the other 1% into question.
It seems for the last four months straight, sales of new homes priced at $750,000 or more were at “Less than 500 units or less than 0.5 percent.”
That startling figure seems to indicate the recession has caused even the rich to pull back on expenses like the rest of us. To see the data for yourself, click on the U.S. Census link above, scroll to the third page, see the results marked (Z) in the right column and look at the footnote for that designation.
Could it be we’re actually the 99.9%?