Anne Butler Realty Group

Real estate is a durable investment. It is one of the pillars of wealth for longevity. Rental $$$ dissipate.

Baby boomers and older Americans have spent decades amassing one of the largest concentrations of private wealth in history. Now, that wealth is starting to be passed down to the next generation—and it’s having a ripple effect across the high-end property market.

Over the next decade, roughly 1.2 million individuals with net worths of $5 million or more are projected to pass down more than $38 trillion globally, according to a new report from brokerage Coldwell Banker Global Luxury reviewed exclusively by The Wall Street Journal.

Real estate is poised to play a significant role in the great wealth transfer. Gen Xers and Millennials are set to inherit $4.6 trillion in global real estate over the next 10 years, according to the report, which incorporated data from research firms Altrata and Cerulli Associates. Nearly $2.4 trillion of that property is located in the U.S.

It isn’t a new phenomenon for well-off parents to give children a helping hand in securing a first home. But at the high end of the market, agents say more parents aren’t waiting for kids to inherit their wealth; they are buying them luxury properties sooner. It’s reshaping the definition of luxury real estate, as more sellers cater to the tastes and preferences of a younger generation of buyers.

What will be the ripple effects of the great transfer of real estate wealth? 🔗 https://on.wsj.com/4qUSwxY

Marriott’s CEO spoke out about DEI | Fortune The next day, he had 40,000 emails from his associates.

One of DC’s priciest waterfront condos sells out
Source: WTOP

One of DC’s priciest waterfront condos sells out - NewsBreak Amaris, part of Phase 2 at the Southwest Waterfront’s The Wharf development, officially opened in 2022, and condo units have consistently driven the highes