January 31, 2013
Richard Green, director of the USC Lusk Center for Real Estate, says it's not surprising that luxury homes are flying off the market right now.
"If you look at the 1%, they are doing better than everybody else since the recovery started in 2009," said Green. "The most recent data I've seen shows that benefits of the recovery have gone 93% to the top 1%, so it's not surprising that their demand for housing is stronger than everybody else."
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