Barron's - Welcome to the Mansion Economy. $10 Million Is Barely Enough.
August 07, 2026
The article highlights a striking divide in the U.S. housing market: luxury real estate is booming while the broader market remains sluggish. Fueled by soaring stock-market wealth and the AI and tech boom, ultrawealthy buyers are driving record demand for multimillion-dollar homes, particularly in San Francisco, Los Angeles, New York, and South Florida. Team Zelman provided key insights for the article, with its research showing that the highest third of the U.S. housing market has outperformed the lowest third in existing-home prices for nine consecutive quarters. Meanwhile, ordinary buyers continue to face limited inventory, affordability challenges, and weaker sales, underscoring the growing divergence between the luxury and workforce housing markets.