Posted by Leonard Steinberg on March 3rd, 2014 The World has finally caught onto what I have been talking about for years – LUXOFLATION – the excessive inflation on luxury products, including real estate. In this morning’s Wall Street Journal, an article addresses the subject specifically related to retail. Despite expanding into new markets, the… [Read More]
MORE LUXOFLATION: FRANCIS BACON WORK SETS NEW RECORD AT AUCTION
Posted by Leonard Steinberg on November 13th, 2013 While real estate pricing continues to set new records weekly, the art world is mirroring the phenomenon we call LUXOFLATION, the significantly elevated levels of inflation that we are seeing on luxury products from collector cars, to art, to Manhattan apartments. Last night a work by the late… [Read More]
LUXOFLATION HITS HONG KONG: LUXURY REAL ESTATE PRICES ESTIMATED TO DROP 25%
Posted by Leonard Steinberg on October 28th, 2013 Hong Kong is seeing signs of the effects of what I call LUXOFLATION…..the inflated inflation of pricing on the very high end of the real estate market. The frenzy to buy real estate in Hong Kong is significantly more crazy than Manhattan’s recent flurry of activity: A new… [Read More]
ITS OFFICIAL: HOUSING PRICES ROSE IN 88% OF US CITIES IN THE FOURTH QUARTER OF 2012
Posted by Leonard Steinberg on February 16th, 2013 It’s official in the mainstream press(although looking in the rear-view mirror is often a bit late): housing prices across the board are rising: Prices for single-family homes climbed in almost 88 percent of U.S. cities in the fourth quarter as the housing recovery broadened. The best-performing metro… [Read More]
MORE PROOF OF LUXOFLATION: HERMES FOURTH QUARTER SALES SOAR 22%
Posted by Leonard Steinberg on February 11th, 2013 Hermes posted its 4th quarter results for 2012: the maker of uber-luxury, hyper-priced fashion goods and accessories showed sales increased 22%. Rolls-Royce has achieved its best sales in its 108-year history, with the world’s mega-rich buying up 3,575 Phantom and Ghost models during 2012. More evidence that the… [Read More]
IS LUXOFLATION SET TO SURGE IN 2013?
Posted by Leonard Steinberg on January 3rd, 2013 Bloomberg reported that the worlds billionaire’s net worth surged in 2012, some by as much as twenty percent. Does this imply a sharp escalation in LUXOFLATION, our measure of the pricing inflation we have identified in the super luxury markets? I think it’s very likely. Already we… [Read More]
HAPPY, HEALTHY 2013 WITH SOME REAL ESTATE LESSONS FROM CAPE TOWN
Posted by Leonard Steinberg in January 1st, 2013 I am blogging from sunny Cape Town, South Africa……my place of birth and still possibly the most beautiful place anywhere…….and while far removed from the concrete jungle of Manhattan, I have learned many lessons, or have been reminded of some from the past……so here goes: 1) Beauty… [Read More]
IT’S OFFICIAL: HOME PRICES ARE BEGINNING TO RISE EVERYWHERE
Posted by Leonard Steinberg on July 24th, 2012 Today a report to be released by Zillow indicates that home prices in the second quarter rose from the year-ago period for the first time since 2007, according to a closely watched index, the latest indication the housing market is starting to recover. In the quarter ending in… [Read More]
OBSERVATIONS FROM THE NEW YORK ART SHOWS
Posted by Leonard Steinberg on March 11th, 2012 Even though I live in West Chelsea surrounded by hundreds of the greatest art galleries, I nevertheless schlepp myself over to the Armory Shows on the Piers every year not only for the art (the perfect place to get a nice global perspective of the art market)… [Read More]