Up to A New Class of Buyers Upper-middleclass couples have heard of amazingly luxurious condos in waterfront locations like Miami Beach, West Palm Beach and Bellevue, Washington. They know the stories that these condos come with resort-style amenities like concierge services, in-house spas and media rooms that serve as personal movie theatres for condo residents, but they never thought they could afford such places…until now.
With the massive reduction in real estate values plummeting the value of luxury condos million dollar condos, once out of reach for the upper-middle class are now becoming affordable. From Baby Boomers to Generation Y, the upper-middle class are now faced with the decision of moving to luxurious condos in paradisiacal locations for the same price they bought their homes for five years ago.
Is it smart for upper-middle class buyers to move to condos that were once only affordable to the uber-wealthy?
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