The American "ultrarich" typically spend the most money in real estate, and new analysis shows that they are buying in these expensive ZIP codes.
Venture capitalist hotbed Atherton, Calif. was the number one neighborhood on Realtor.com's list, with a median listing price of $10,194,000. Some of the local homeowners include former Hewlett Packard Enterprise CEO Meg Whitman and Microsoft co-founder Paul Allen. “The ultra-ultrahigh net worth buyer can afford anything. When you can buy anything, it is difficult [making a decision] because that means everything is available,” says Dolly Lenz, high-end real estate agent based in New York.
It's the great national good news/bad news joke. The good: Americans are richer today than at any time in this country’s history. The bad: Most of their combined net worth (just over $100 trillion, according to the Federal Reserve) is held by very few. And yet, our nation of haves and have-nots is obsessed with those haves, the lucky folks buying up private jets, six-figure sports cars, eight-figure pieces of art, and one-of-a-kind Wu-Tang Clan LPs. We track their movements with a combination of lust and envy.
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