Where there is high-end real estate up for grabs, there's an opportunity for insurance agents and brokers to grow their book of business. And right now, the luxury housing market in the U.S. is rife with opportunities as it just came off a good year, according to a recent report by MyAffordableLuxury.com, a lifestyle blog focused on the luxury market.
Many wealthy buyers retreated from cities to get away from urban lockdowns, sometimes setting off bidding wars for luxury suburban properties. San Francisco and New York, top luxury markets, were left to deal with sluggish sales and discounted prices at the high end.
However, the report noted that luxury markets are not equal, even in the country's most expensive cities. Not only do stark differences exist between New York and San Francisco, but differences also become more pronounced when compared with other markets across the country.
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Michael S. Fischer
Michael S. Fischer is a longtime contributing writer for ThinkAdvisor. He previously reported on trade and intellectual property topics for the Economist Intelligence Unit and covered the hedge fund industry for MARHedge and Reuters News Service.
