Episode Details

A $30 million Newport Coast estate with a subaquatic speakeasy bar and ocean views just hit the market—just one example of a booming luxury real estate scene. But beneath the gilded facades, a bigger trend is unfolding: trillions in wealth are poised to be passed down over the next few decades, mostly to those already in the top 10%—reinforcing inequality rather than redistributing it. Meanwhile, soaring mortgage rates are crushing homebuyer demand, hitting a 10-year low, as the Fed calls the housing market a weak spot, citing stubborn inflation.

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