Mansion Global Daily: Migrating Boomers Are Still Placing Their Bets on Las Vegas
Miami Prices Surged Again in May
For the second straight month, home prices hit a record in Miami-Dade County in May even after a year of declining sales each month. Miami-Dade’s median sales price for single-family homes reached $620,000 last month, up from $575,000 a year ago and $600,000 in April, according to a report Thursday by the Miami Association of Realtors. The skyrocketing home prices in the Miami area continue a long trend that accelerated during the pandemic. It can be blamed mainly on low inventory and persistently strong demand, real estate experts said. Miami Herald
German Property Market Almost at a ‘Standstill’
Home prices across Germany dropped by a record 6.8% in the first quarter of the year, according to the federal statistical office. The declines in Europe’s largest property market come amid high borrowing costs, inflation and weak economic growth. “The German housing market has gone from being a seller’s market to a buyer’s market, and transactions have almost come to a standstill,” said Carsten Brzeski, a Frankfurt-based economist at ING. “The official price index is almost a fiction because it is based on so few new transactions.” Financial Times
Rent Anna Kendrick’s Los Angeles Bungalow for $10,000 a Month
Actress Anna Kendrick has put her L.A. home up for rent, with a price tag of $10,000 per month. Located in the Hollywood Hills, the bungalow has an open layout on the first level, with the living room flowing in a dining area with built-in seating and a kitchen with an island. The primary bedroom is surrounded by mountain views and has a sitting area, a large walk-in closet and a bathroom with a soaking tub. The outdoor living space features a heated sun deck and a fireplace. It’s been reported that Kendrick bought a $7 million mansion in the neighborhood last year. Realtor.com
Migrating Boomers Are Still Placing Their Bets on Las Vegas
Las Vegas and Tampa, Florida, have the biggest allure when it comes to migrating baby boomers, according to real-time data from Bank of America, which tracked new accounts, including savings, checking and other investments, set up each quarter. Migration patterns can be surmised from customers’ home addresses. Pandemic boomtowns continued to lead the country in migration, according to customer data from the first three months of the year. Millennials, for instance, still heavily favor Austin, Texas; and both groups are leaving San Francisco and New York. GlobeSt
