We see pictures of the world's most richest individuals in the news and magazines, but off camera, what type of lives do they lead? Are their homes all glitz and glamor, or retreats from an otherwise demanding daily life.
The drive for homeowners to purchase bigger and "better" homes well beyond their financial means is one of the suggested causes of our current economic climate and resultant real estate crash. As a result, there is a plethora of architectural behemoths on the market with no one interested in buying them, particularly not for the price that owners are looking to sell them for.
In an entirely different class, the other group of luxury homes, are advertised locally. Property in the US that is valued at over a million dollars is usually considered luxury real estate. Consumers in high socio-economic groups are the target for these properties.
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