These days, it is not just a woman who can never be too rich or too thin. You can say almost exactly the same thing about skyscrapers, or at least about the latest residential ones now going up in New York City, which are much taller, much thinner, and much, much more expensive than their predecessors. And almost every one of them seems built to be taller, thinner, and pricier than the one that came before. — vanityfair.com
Did Paul Goldberger just say that women can never be too thin?
4 Comments
I battle schadenfreude when some evil part of me wants the real estate market for these absurdly expensive units to crash so the investors lose their gamble. $90-some million for a penthouse, bought by an investor who never intends to live there. Outside of economic theory, this strikes me as bad for everyone.
Too exclusive.
Donna, I'm with you. But the thing to realize is that the $90m flat is just one of probably half-a-dozen or more in a diversified investment portfolio, and all together they only represent a small fraction of that individual's financial worth. A crash to them is just another opportunity to buy at deep discount.
Just like firm owners play the interns to maximize their profitability, so does the financial industry play architects. You just got played, NY.
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