Luxury failures are failed products, luxury foreclosures and other indulgences that fall flat on their faces.
I have been thinking about the luxury of destruction and what it would be like to stomp on, flush down the toilet, or simply throw into the kitchen trash an $11,000 Omega watch or perhaps a woman’s $30,000 gem-studded jewelry set? You ask how such destruction might happen? We are not talking about drug deals gone bad or stolen merchandise being hidden. We are talking about lavish gifts given to…
by Roberta Murphy Mexico is struggling with a number of serious problems, including failed real estate developments along the Baja coastline–just south of the San Diego border. From the northern tip of Tijuana’s coastline down to Ensenada, Baja beach areas are spotted with the rusting remains of failed high rise condo projects. And one of the biggest failures is the Trump Ocean Resort Baja just north of Punta Bandera, where…
by Roberta Murphy Once upon a time, we whispered about the “F” word creeping into luxury real estate. These days, it is common real estate talk. The Wall Street Journal quotes Realty Trac reporting that the number of $1-plus million homes in some stage of foreclosure has ballooned to 7,968 between January and August this year. This compares to 4,214 during the same months last year. Within these numbers, it…
