Have you ever wondered if there are actually enough rich people in the world to fill all of the new luxury living spaces around New York City?

You'd be right to wonder, as the over saturation of the luxury housing market is a big concern for people who are "kind of a big deal," also know as the super rich.

Sooooo... is it really true? 

Have New York City's most grandiose property developers finally realized that they've built too many living spaces that are too expensive and designed their own doom with a housing bubble that may soon burst?

Eh, time will tell. We shouldn't jump to conclusions. As it stands, the data compiled via The Real Deal is sketchy at best. 

But what is for sure is that the number of people with the funds to purchase $30 million and above apartments in New York City is relatively low compared to every other price point. Surprised? You shouldn't be.

Nobody really knows exactly what that number is. But either it's low, or there just aren't very many of them in the market for an astronomically priced apartment in Manhattan at the moment. 

Don't get us wrong, development wouldn't be continually happening if there wasn't some type of demand for it, and experts note a consistent demand. There's a strong market for very pricey condos right now, or at least there's a strong market for listing them... 

But the question is: for how long? 

via The Real Deal

It seems development is pinning its hopes on the conspicuous consumption patterns of Earth's most elite wealthy. 

We're talking "uber-billionares." People with bottomless pockets. First it was mega-yachts, and now it's stupidly expensive mega-apartments. 

Wanna Live on Billionaire's Row fo' Free?! The Solution Is Simple... Kinda. 

[via The Real Deal]