Posts tagged Recession at Luxist

Posts with tag recession

Blogging From the Luxury Summit: How the Wealthy Spend When Times Get Tough

Posted Apr 20th 2008 3:02PM by Deidre Woollard

With dire economic news coming out nearly every day what is going on in the luxury community? Are consumers worried? Have they stopped buying? At the American Express Publishing Luxury Summit the second annual Survey of Affluence & Wealth in America produced by American Express Publishing Corporation and the Harrison Group was revealed. As the survey reveals, no one is stopping their shopping anytime soon but they are shifting from what they call an "iWant" economy to an "iNeed" economy and finding new ways to spend money.

Continue reading Blogging From the Luxury Summit: How the Wealthy Spend When Times Get Tough

A Sign of Tough Times, Paris Pawn Shops Accepting Wine

Posted Mar 27th 2008 4:02PM by Laura Malesich
Filed under: Wine

For the first time ever, pawn shops in Paris that typically accept family heirlooms and jewelry have made the decision to accept wine. With a minimum value of €60 required, the Crédit Municipal de Paris will give owners fifty-percent of the value and store the wine until it can be bought back. The building happens to have 18th century cellars below ground, providing the perfect storage area for the pawned wine. For wine that isn't bought back it will eventually be sold at auction. So far the most expensive bottle pawned was a Domaine de la Romanee Conti for €5,000.

Fed Chairman Ben Bernanke's Home Victim of Same Economy

Posted Mar 20th 2008 7:01PM by Sarah Gilbert
Filed under: Estates

There's justice, and then there's poetic justice. Whether or not you blame Federal Reserve Chairman Ben Bernanke for the current woes of our financial system, it's good to know that he's not immune from the plummeting housing market. Not at all. The Fed chief has a four-bedroom townhouse in Washington, D.C.'s Capitol Hill area that he bought in May 2004 -- near the peak of the real estate market. He paid $839,000.

After enjoying a brief run-up in market value to over $1 million, the recession happened (and a little something with interest rates, remember that, Ben?) and now, according to estimates, the house is worth only... $840,000. Homes in Bernanke's neighborhood seem to have peaked in value in 2005, and have since fallen -- though only a few percentage points this year, down to a median of $545,000 from $550,000 in third quarter 2007.

Less Millionaires Being Made?

Posted Mar 18th 2008 12:02PM by Rigel Gregg

The economy is going through a rough patch, and as things like real estate and the stock market slow down so, apparently, does the growth rate of the wealthy. There's fewer millionaires in the world than there used to be.

It's not that millionaires are losing their fortunes, but just that the number of new millionaires being made is fewer than it usually is -- new millionaire households in 2007 grew by only 2.2%, which is the slowest growth in years.

Sure that stinks but hey, it could be worse. They could all be going bankrupt.

#	Blogger	Posts	Cmts
1	Deidre Woollard	173	1
2	Rigel Gregg	51	2
3	Star Sutherland	46	0
4	Jared Paul Stern	46	0
5	Laura Malesich	32	0
6	Lisa Palladino	13	0

Blogger

Posts

Cmts

173

Recycle an old sweater into a cupcake pincushion Make an eco-friendly reusable sandwich wrap Feeling watched? How to detect a hidden camera	EcoScopes, Week of May 12th 2008 More and more people catch on to public transport Five ways to reuse nail polish
How do you deal with broken highchairs? Not your mother's mom club Pregnancy tips all moms can use	Buying a Swedish island... or just spending time on one Civil War reenactment battles to watch or join Photo of the Day (5/11/08)
First Daughter Jenna Bush marries Henry Hagar Kid-friendly reception songs Dresses for summer rehearsal dinners	AutoblogGreen for 05.12.08 Your tax dollars at work: Border guards hold up traffic to check out Challenger From the Awesome Files: V6 Miata auto-x weapon

Blogging From the Luxury Summit: How the Wealthy Spend When Times Get Tough

A Sign of Tough Times, Paris Pawn Shops Accepting Wine

Fed Chairman Ben Bernanke's Home Victim of Same Economy

Less Millionaires Being Made?

RESOURCES

RSS NEWSFEEDS

Sponsored Links

Luxist bloggers (30 days)

Most Commented On (60 days)

Recent Comments

More from AOL Money & Finance

Weblogs, Inc. Network