A recent Bloomberg article said that in 2021, at least 40 residential properties sold for more than $50 million in the U.S. This represents a 35% increase compared to the previous year. “The surge in this tier is unprecedented,” said Jonathan Miller, CEO of the appraisal company Miller Samuel. “We’ve never seen this kind of growth.” Miller called the rise in prices a “national phenomenon” and pointed to the establishment of a new class of properties: $100 million-plus homes. He said that at one time, this development seemed “comical or whimsical” and “came across as a flash in the pan.” But he noted that such high prices have now been a characteristic of the U.S. real estate market for seven years. Social mood regulates the public’s perceptions and behavior regarding housing, and during positive social mood trends, real estate prices are bid up. To learn more about the relationship between housing and social mood, read “Alan Hall: How Is a ‘Bear-Market House’ Different from a ‘Bull-Market House’?.”
If you look closely, you can see patterns in social mood that help you predict social trends. Learn more with the Socionomics Premier Membership.