How This Single-Family Home Became the Most Expensive House in the U.S.

The single-family home is the most common and popular home sought out in American. In the past century, homes have been constructed to suit families of 3 to 6. But it wasn’t always like this. The housing market took a rough hit in 2008, as the mortgage industry was both the epicenter of the financial crisis and the slowest to recover. The COVID-19 pandemic also took its toll on the real estate market for a few months. But surprisingly people started buying more property. However, the housing industry has won hard-earned gains.

One litmus test that may well indicate just how close to recovered the real estate industry is, is the sale of the “Palais Royale”. Possibly America’s most expensive single-family home. The story of the palatial estate itself is a microcosm and reflection of the recession as a whole.

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