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Luxury homes, once untouchable, are losing value. Discover why million-dollar mansions are now going for a (relative) steal. Artashes / Shutterstock.com
If the economy really is headed for a “richcession” — where well-heeled folks take a bigger hit than in a normal downturn — the coming storm may have already reached some luxury home markets. Luxury home prices fell by double digits in several places among the 50 most populous U.S. metropolitan areas during the second quarter of 2023, according to a Redfin analysis. Nationwide…
