The ultraluxury market remains strong as wealthy buyers face fewer obstacles, making high-value transactions possible even amid rising mortgage rates and home prices.
In a remarkable display of wealth, billionaire James Jannard sold his Malibu estate for $210 million, setting a new record and highlighting the ongoing demand for megamansions.
For the ultrawealthy, climate change does not significantly impact their buying decisions, as they have the means to navigate risks that deter average buyers.
Malibu and other luxury areas continue to thrive with high-priced sales above $50 million, driven by buyers who operate outside typical market pressures.
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