Over at The Street website, Jason Notte pens a piece on recent real estate data and quotes an interesting observation:
“I attribute the rise in luxury property sales to the strong recovery in the stock market,” (said Lawrence Yun, chief economist with the National Association of Realtors). “The job market has not recovered, other areas of the economy are sluggish, but the stock market has improved and that’s what many upper-income families have their money tied to.”
