Room at the top

“Understand, we’ve never begrudged success in America; we aspire to it. We admire folks who start new businesses, create jobs and invent the products that enrich our lives, and we expect them to be rewarded handsomely for it. In fact, we’ve often accepted more income inequality than other nations for one big reason because we were convinced that America is a place that even if you are born with nothing, with a little hard work, you can improve your own situation over time and build something better to leave your kids.”

-- Barack Obama, Dec. 4, 2013

 

“This country does a great job in creating wealth, but not a great [job] in distributing it.”

-- Lloyd Blankfein, CEO, Goldman Sachs, Dec. 4, 2013

 

Mirroring in a modest way the present trend in Manhattan of the sale of apartments and condos at unprecedented high multiples of tens of millions of dollars, the increase in the number of sales of higher-end properties in Ulster County is providing the lion’s share of the present upturn in local real estate. The increase in the gross sales of a limited number of high-end properties has represented more than half the increase in the past year in the gross revenues from the sale of MLS-listed residential properties. The county’s present real-estate market is in alignment with the times.

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