The Institute for Luxury Home Marketing maintains a blog with frequent updates on the luxury real estate market. A review of their postings (especcially December 21, 2007) says that the wealthy are still buying. In Dallas, accoring to the President of one local luxury real estate firm, the most active part of the market is homes over $3M.
The same blog carrries a link to lore magazine. It contains an article about how our research is being used by the Institute to train luxury real estate agents in LifeStyle marketing and selling. We can't claim responsibility for the strength of the market. We just claim helping agents capitalize on it.
We are doing the same thing in financial services. A version of LifeStyle Marketing training is being applied by the Wealth Management divison of a leading firm. This firm knows that the fastest growing segment of their market is households with over $10M in assets.
The next application will probably be in private jet travel. Firms in this industry are serving the same clients. And its forecast that there will be 1,000,000 households at this level of wealth within 2 years.
While aspirational luxury pauses, real luxury moves ahead. And we are pleased to move ahead supporting providers of true luxury.
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