By James McClain While Coronavirus woes have financially slammed nearly every industry, real estate has been among the hardest-hit of all.
Since the shelter-in-place restrictions took effect in March, property sales in major cities like Los Angeles have mostly ground to a screeching halt that’s only now morphed back into a timid crawl.
And the ultra-high-end sector — homes priced above $10 million — has been particularly impacted, with jumbo mortgages all but extinct and buyers reluctant to cut large checks in a time of unprecedented economic uncertainty.
Still, everyone needs housing and there remain a small cadre of qualified billionaire buyers out hunting for new homes. But those folks are keenly aware they hold the deal’s proverbial
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