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THE LONG GAME
Don’t be fooled. The white-hot market of the last few years was the equivalent of Halley’s Comet, a once-in-a-lifetime phenomenon. Start with near-zero interest rates. Coop up the more than 250 million Americans who live in our cities and suburbs. Then airdrop trillions of dollars of government payouts into bank accounts nationwide. The result? A land rush of unprecedented proportions.
From inflation to the Great Resignation, the US economy is still grappling with the aftermath. Which is why I welcome the news that Hawaii’s Dillingham Ranch has finally sold. It marks a return to normalcy. You remember the Dillingham, don’t you? This gorgeous North Shore property first came to market in 2012. Thanks to its $65 million price tag, the Oahu ranch earned a spot in our Top Ten right out of the gate. That was more than a decade ago — back in the days when big deals took time.
If you’re looking for a weekend read, then feel free to page through our Texas issue, which just came off press.
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