A study conducted by the Harvard University Joint Center for Housing Studies shows the number of luxury homes grew 150 percent more than the total number of U.S. homeowners recently. However, luxury condos, co-ops and secondary homes were not included, which means the true growth rate was actually much higher.
What does this mean? It means that many Americans enjoy owning million-dollar homes, estates, and even condos, which weren’t included in the growth rate. Is there something wrong with enjoying such a lavish life in a luxury home? No, of course not. Living a completely fulfilled life in the lap of luxury is, after all, the American way.
A home is a wonderful investment, as its value typically appreciates, even while other investments tend to depreciate. The larger the value of the home, the larger the investment, and when the value increases the homeowner is allowed to capitalize off of his or her wonderful and wise investment.
A home is also a spectacular place to enjoy. A place to entertain friends and family, as well as to raise children in. a place to design and decorate to reflect you – a place to become the wonderful cornerstone in your life that it needs to be. This is often times more easily done with a luxury home, and we would probably all have them if our budgets permitted, but a home is a home, and luxury home or not, home is where the heart is, and in my opinion, where it ought to be.
For more information on the luxury home market and how it’s affecting the real estate industry, visit RisMedia.com.