This contractor is in deep difficulty. They developed a $4 Million Home in Nashville that has actually been on the market for over a year and also is NOT SELLING.
That’s due to the fact that there’s been a major collapse in the sale of luxury residences on the US Housing Market. Information from Redfin shows sales of million dollar homes are down 44% YoY. And near their most affordable levels on record.
– who can afford a residential or commercial property like this one in Nashville? The residence payments are nearly $30k/month when factoring in mortgage passion, tax obligations, and insurance coverage.
Another problem for the high-end real estate market is the decrease in incomes for wealthy individuals. Information from Bank of America shows high-income earners in America are having a hard time, with their pay going adverse.
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