Luxury home market hit hard by slump

Courtesy MSNBC.com: Business  Tue, 07/07/2009 - 12:30

Larry Brocchini poses for a picture at his home in Bronxville, NY.<br /><br />Like many luxury homeowners, Brocchini has had trouble selling his house in the weak real estate market.High-priced homes are languishing on the market.

The recession and collateral damage in the stock markets, have knocked many luxury buyers out of the market.



 

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