Since the financial crisis of 2008 Americans are socking away some $600 billion in annual savings a year! Many Americans are deleveraging, downsizing and living a more financially cautious lifestyle. Even luxury home buyers and million dollar homeowners have adapted. The home ownership rate has also declined to a low of just under 60% when loans in default are taken into account. Prices have fallen, interest rates have dropped, foreclosures are working there way through the system and Americans are saving. We never see a perfect straight line path in economics, but one day is coming when Americans will begin investing their savings in luxury homes again. At Luxury Homes of Las Vegas, we look forward to that time again!
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