According to Matt Woolsey of Forbes, managing partners at Wall Street firms are likely to pull in end-of-year bonuses ranging from $2 million to $50 million, and, naturally, it only makes sense for these power players to spend their hard-earned cash on some of the United States’ most impressive trophy homes.
The $21.5 billion in estimated total bonuses for the 2007 year matches 2005 as the second-highest level ever, with 2006 ($23.2 billion) the lone superior year. As a result, there is a tremendous spike in real estate movement in luxury properties, from condos for first-time financiers to prestigious Co-ops in Manhattan for the veteran big wigs.
Miami, and New York are all highly represented markets during this time for Wall Street’s best, as is Northern California’s wine country, an area that the Haute Blog has followed as perhaps the most prodigious real estate market in the U.S. as we speak.
When it comes down to it, how can they go wrong? With the world at their fingertips, and the cash to burn, these financiers can have their pick of the litter across the world.