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Inside America’s billionaire housing boom

Posted on 19 April 2013

“The U.S. is just coming out of a housing downturn and it’s become a global safe haven for investors,” says Jonathan Miller, chief executive of Miller Samuel, a New York-based real estate appraisal firm. “But this time it’s not carpenters and nurses quitting their jobs to become mom-and-pop investors; it’s billionaires looking to sink money into unique properties.”
Miller believes these unique properties have become a “new global currency,” as investors view prime trophy real estate as a safe, relatively low-risk place to park cash that hedges against inflation while diversifying an investment portfolio………………………………………Full Article: Source


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