No shortage of real estate billionaires in America. Nope. The recent Forbes 400 list is chock full of them and they seem pretty much immune to the current housing/mortgage/credit crisis.
Forbes points out that Donald Trump has made out big time by buying up hotels and mega apartment complexes — so much so, says Forbes, they contribute to Trump’s estimated $3 billion dollar net worth.
Others on the list include Samuel Zell who recently bought the Los Angeles Times and Mortimer Zuckerman, the long time owner of the New York Daily News.
Which brings me to Hindsdale . . . a hop, skip and a jump from downtown Chicago.
Photo Courtesy of Village of Hinsdale
Hinsdale apparently needs emergency help with its real estate market, says a Reuters dispatch.
I should explain that Hillsdale is home to what is being called “McMansions” — owned by folks who, for the most part, made their money during the 90′s Internet boom. The homes there start in the low millions, but are suddenly not selling apparently.
One real estate broker in the area is quoted as saying “in more than 30 years I’ve never seen so much inventory.”
Now, here is a chance for the super rich to lend a helping hand to the just plain rich by buying up their property. I mean, what’s a $2 million dollar home purchase to a guy like Zell? Hell, he probably spends that much everyday on jet fuel for private planes.
And, such charity from the super-rich could set an example for others…you know, sort of a role model.
So, this is an appeal to the Trumps and Zuckermans and Zells and Jorge Perezes of the world:
Why not reach out ( or in your cases, down) and scoop up these wanting mega-homes?
You’ll be better people for it and Hinsdale could go on being a magnet for the just plain rich who wouldn’t be caught dead actually living in downtown Chicago.
Related posts:
- Beware of Real Estate Ripoffs
- Most Expensive House in America: For Sale!
- Investing in College Real Estate
Article Author: Charles FeldmanCharles has written 179 articles for us.
Visit Charles's Website: http://www.thefeldmanblog.com
Charles is currently reporting for KNX Radio in Los Angeles, is the co-author of the book No Time To Think, and can be found commenting about the news on his blog, The Feldman Blog, as well as on The Huffington Post.
Joshua Dorkin
