Rich and looking to invest? Don't buy a mansion
The highest end of the high end real estate market is buzzing. Already this year three homes in the U.S. have sold for more than $100 million.
Just last week, a property in the Hamptons (outside New York) sold for $147 million -- the most ever paid for a single-family house in the U.S. Still, UCLA's Eric Sussman says real estate that gets this kind of attention is full of risk.
"I don't think any economist, any real estate expert ... would say that buying a $100 million home is a safe place to put your money. Because let's face it you're talking about a very scarce asset with very few potential buyers," says Sussman.
Below is a list of the top real estates sales in the U.S.:
|Address||City||State||Price paid||Date of sale|
|60 Further Lane||East Hampton||N.Y.||$147,000,000||May 2014|
|Blossom Estate||Palm Beach||Fla.||$140,000,000||Dec 2012|
|Broken O Ranch||Augusta||Mont.||$132,500,000||2012|
|Copper Beech Farm||Greenwich||Conn.||$120,000,000||April 2014|
|360 Mountain Home Road||San Francisco||Calif.||$117,500,000||January 2013|
|The Fleur de Lys||Los Angles||Calif.||$102,000,000||2014|
Credit/Compiled by: Miller Samuel Real Estate Appraisers