Over 7,000 homes in New York City are now worth over $5M (the most expensive one ever was just sold for $100M). http://www.wsj.com/articles/mapping-the-wealth-of-new-york-city-by-housing-values-1422929059
Rental apartments in New York are now being leased for as much as $500k-per-month. https://revaluate.com/blog/highest-rents-in-nyc/
I have always considered myself a libertarian, believing in the invisible hand of the free market. But this is just crazy!
Can anyone justify why people are paying $500,000-a-month for an apartment? How many lives around the world would that save?