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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