Markets in Everything: Mansion Rental
Minneapolis StarTribune -- Rental houses used to be limited to modest starter homes or rundown digs for college students. But if you prefer the finer things -- and can shell out as much as $10,000 a month in rent -- you can now choose from a variety of million-dollar-plus houses: Historic mansions in Kenwood, executive homes in gated communities, sprawling estates on Lake Minnetonka.
Thanks to the sluggish real estate market, luxury rentals, once an oxymoron, have become a way to generate cash for their owners. Transferred executives and builders with excess inventory are renting their unsold homes while they wait for the upper-bracket market to recover.
"It's the new American way," said agent Paul Larson of Coldwell Banker Burnet. "If you can't sell 'em, rent 'em."
Thanks to the sluggish real estate market, luxury rentals, once an oxymoron, have become a way to generate cash for their owners. Transferred executives and builders with excess inventory are renting their unsold homes while they wait for the upper-bracket market to recover.
"It's the new American way," said agent Paul Larson of Coldwell Banker Burnet. "If you can't sell 'em, rent 'em."
2 Comments:
The housing market represents the common citizen's unit of value .....
An unusual hypothesis regarding asset valuation fractal patterns and macroeconomic cycles was blogged in 2005.
http://www.economicfractalist.com/
Qualitatively it spoke of a great nonlinear macroeconomic collapse based on fractal pattern recognition dating from 1789. . Few other academic macroeconomists predicted the 2008 debacle.....
By the regular fractal patterns 11 October 2007 was prospectively predicted as the Wilshire's nominal high.
Looking at the Mainpage of the Website and the nodal low weekly pattern for the Wilshire from March 2009 to August 2011; the simple growth and decay pattern x/2-2.5x/2x/1.5x was followed: 19/47/38/27 weeks....
The 6 May 2010 flash crash was during week 44 of the 47 week second fractal and within the terminal 2x and 2.5x portion of that second fractal.
Using a larger fractal time dimension the month, the x/2.5x/2x/1.5x nodal low pattern was also observed from March 2009 to October 2011 5/13/10/7 months....
Perhaps out of the lowly blogs, a new macroeconomic science has emerged which will provide understanding of the Big Picture and more beneficially the importance of governmental Keynesianism during the macroeconomic system's predictable nonlinearities.
http://seekingalpha.com/instablog/411093-the-economic-fractalist/327761-24-february-2012-and-11-october-2007-the-wilshire-s-identical-x-2-5x-2x-reflexic-peak-fractal-patterns-and-valuation-days
Explains the business model of Inspirato... Rent by the month and charge by the night.
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