Prices of luxury homes increased at double the pace of nonluxury homes at the end of last year, reaching an all-time high as a record share of high-end buyers paid cash. The typical U.S. luxury home sold for a record $1.17 million in the fourth quarter, up 8.8% from a year ago, according to a report from real estate brokerage Redfin. Prices of nonluxury homes increased 4.6% year over year to a record $340,000. All-cash buyers accounted for a record high 46.5% of the fourth quarter's luxury buyer
A bill that was passed in a legislative committee on Tuesday could be pulled because of the technicalities of the bill.The bill would require private businesses
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