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Actually anyone who buys this house is paying cash. Serious cash. And there are probably less than a thousand people who can afford. News from the Aspen Times is that Prince Bandar bin Sultan bin Abdul Aziz is looking to sell his Aspen compound for $135 million. The property includes 95 acres and a 56,000-square-foot mansion with 16 bedrooms, 15 bathrooms, countless amenities including a snowmelt driveway. I can just see real estate agents whipping out their calculators to figure out what 6% of $135 million is….
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.