Chinese, among others, seek safety in US real estate. If you’ll excuse the reporter’s perception that a million-bucks is a lot of money, the basic facts are true: high-end houses are selling, while the middle-grounds is not. That’s a reversal of what was happening in the market just a year ago.
My partner Fudrucker is incredibly busy with Chinese buyers at the moment; in fact, he’s off to China in two weeks to explain, and sell, we hope, the Greenwich market to potential buyers in that country, and I’m sure he’s not the only Realtor responding to international demand. As bonuses shrink for the mid-level Wall Streeters and soar for the top, Greenwich property owners should cross their fingers and hope for continued instability in the east, including, of course, Russia.