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☆ Greta Gerwig’s ‘Barbie’ Dream Job
▼ + stars: | 2023-07-11 | by ( Willa Paskin | ) www.nytimes.com time to read: +3 min

Someone more cynical than Gerwig might have been less moved by Mattel’s corporate epiphany, 60 years into existence, that Barbie could sustain being a size 6, but cynicism is clearly not Gerwig’s way. The movie sidesteps whatever role Barbie might play in perpetuating a narrow, idealized femininity; instead it gives this particular Barbie a crash course in modern misogyny. After decades of fretting about girls’ wanting to be as perfect as Barbie, Gerwig serves up a Barbie struggling to be as resilient as us. This woman is played by the 91-year-old, Oscar-winning costume designer Ann Roth, a friend of Gerwig’s. If I don’t have that scene, I don’t know what it is or what I’ve done.”

Persons: Barbie, ”, “, Gerwig, Ruth Handler, Rhea Perlman, Ariana Greenblatt, Ann Roth, Gerwig’s, —, ‘, ” Gerwig Organizations: Mattel Locations: Barbieland, Los Angeles

On Oct. 15, 1991, Clarence Thomas secured his seat on the Supreme Court, a narrow victory after a bruising confirmation fight that left him isolated and disillusioned. Within months, the new justice enjoyed a far-warmer acceptance to a second exclusive club: the Horatio Alger Association of Distinguished Americans, named for the Gilded Age author whose rags-to-riches novels represented an aspirational version of Justice Thomas’s own bootstraps origin story. If Justice Thomas’s life had unfolded as he had envisioned, his Horatio Alger induction might have been a celebration of his triumphs as a prosperous lawyer instead of a judge. So began his grudging path to a judicial career that brought him great prestige but only modest material wealth after decades of financial struggle. When he joined the Horatio Alger Association, Justice Thomas entered a world whose defining ethos of meritocratic success — that anyone can achieve the American dream with hard work, pluck and a little luck — was the embodiment of his own life philosophy, and a foundation of his jurisprudence.

Persons: Clarence Thomas, Horatio Alger, Thomas’s, Justice Thomas, —, ” Organizations: Distinguished, Yale Law School, Horatio, Horatio Alger Association, Justice

☆ Fake Rolex watches make up half of the luxury replica market, exec says
▼ + stars: | 2023-07-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Half of replica watches are Rolex replicas, according to Watchfinder's CEO. The exec told Bloomberg that the brand sees the highest demand on replica markets. Meanwhile, prices for luxury watches have fallen near two-year lows on secondary markets. The replica watch market is getting more and more sophisticated, and roughly half the market is comprised of Rolex fakes, according to the chief executive of Watchfinder & Co. "You see replica or clone watches — very, very high quality watches — of virtually all of the big luxury brands," van de Vall told Bloomberg.

Persons: Arjen van de Vall, van de Vall, it's, Joe Biden, Michael Gapen Organizations: Bloomberg, Morning, Rolex, Watchfinder, JPMorgan, Bank, America's Locations: Swiss

☆ India’s push to democratise credit tests limits
▼ + stars: | 2023-06-30 | by ( Shritama Bose | ) www.reuters.com time to read: +4 min

Yet barely half of them have active loans and only up to 10% have a credit card. That’s why the regulator is allowing the use of RuPay credit cards, the country’s low-cost answer to Mastercard (MA.N) and Visa (V.N), for UPI payments. Earlier, in June 2022, the central bank had allowed lenders to link RuPay credit cards to UPI accounts. HDFC Bank became the first private bank to go live on UPI with RuPay credit cards in February. Paytm tied up with SBI Cards and Payment Services in May to issue RuPay credit cards to its consumers via UPI, offering cashbacks on small-value payments.

Persons: It’s, Paytm, –, Bernstein, Una Galani, Pranav Kiran, Thomas Shum Organizations: Reuters, UPI, Google, Reuters Graphics Reuters, Mastercard, Visa, Merchants, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Punjab National Bank, One97 Communications, Reserve Bank, Tiger, Uni, “, Reserve Bank of India, SBI Cards, Services, Thomson Locations: MUMBAI, India, Punjab

☆ Americans think they will need nearly $1.3 million to retire comfortably, study says. How to calculate your own 'magic number'
▼ + stars: | 2023-06-26 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

Respondents in their 50s expected to need the most when they retire — more than $1.5 million, the survey found. Calculating your own retirement 'magic number'Rather than think about a big goal number for retirement, Patel said he urges clients to identify their income needs. As you think about retirement, in an ideal world, you would have enough guaranteed zero risk income to cover your guaranteed expenses. Alap Patel wealth management advisor for Northwestern MutualEveryone typically has three types of expenses, Patel said. "As you think about retirement, in an ideal world, you would have enough guaranteed zero-risk income to cover your guaranteed expenses," Patel said.

Persons: Antonio Suarez Vega, It's, Alap Patel, it's, Patel, Gen Xers, Gen, Winnie Sun, Sun Organizations: Istock, Northwestern Mutual, Savings, Finance, Cerulli Associates, Sun Group Wealth Partners, CNBC's Locations: Chicago, millennials, Irvine , California

☆ U.S. luxury sales increasingly coming from high-end shoppers, Bain & Co says
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +2 min

PARIS, June 23 (Reuters) - Luxury brands focused on wealthier consumers in the United States are performing better than those who appeal to aspirational shoppers on lower incomes who are deterred by the economic uncertainty, consultancy Bain & company said. For example, premium fashion retailer Hugo Boss last week raised its sales and profit targets for 2025 and said it continued to see strong growth in the U.S. and was expecting revenue to grow in the Asia-Pacific region. Lovato said that while there were "some questions marks" about China, and possibly a slowing of sales growth with the middle class, there was still appetite there. Luxury sales stood at 345 billion euros last year, according to Bain. Reporting by Mimosa Spencer and Elisa Anzolin; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Bain, Federica Levato, Hugo Boss, Lovato, Mimosa Spencer, Elisa Anzolin, Alison Williams Organizations: Bain, Reuters, People, Saks Fifth, REUTERS, Thomson Locations: United States, China, New York City, U.S, Asia, Pacific

☆ U.S. luxury sales increasingly coming from high-end shoppers - Bain
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +2 min

Persons: Bain, Federica Levato, Hugo Boss, Lovato, Mimosa Spencer, Elisa Anzolin, Alison Williams Organizations: Bain, Reuters, Thomson Locations: United States, China, U.S, Asia, Pacific

☆ Remember when Paris Hilton channeled ‘Barbiecore’ to a Britney Spears’ 2001 concert?
▼ + stars: | 2023-06-22 | by ( Faye Bradley | ) edition.cnn.com time to read: +5 min

And in November 2001, the hotel heiress made a fashion statement that etched itself in the annals of noughties style. To top it off, she wore a tiara, applied a glossy pink lip and pink eyeshadow and clutched onto a furry Barbie-branded handbag. At just 20 years old, Paris Hilton — pictured here with Nicole Richie as the pair attended a Britney Spears concert in Las Vegas — was already being dubbed a culture-defining noughties "It Girl." In a playful mauve take on the label's classic tweed separates, Naomi Campbell walks the runway during Chanel's Spring-Summer 1994 show. Paris Hilton walks the runway during Versace's Spring-Summer 2023 show on September 23, 2022 in Milan.

Persons: CNN —, Paris Hilton, Greta Gerwig, Margot Robbie, July’s, Barbie, Hilton, bestie Nicole Richie —, Britney Spears, Nicole Richie, Las Vegas —, ”, —, Paris, Oscar de la, Christian Dior, Ralph Lauren, Barbiecore, supermodels Naomi Campbell, Claudia Schiffer, Carla Bruni, Naomi Campbell, Michel Arnaud, Corbis, Thierry Mugler’s, Herve Leger, Cindy Crawford, Karen Mulder, Eva Herzigova, Moschinos’s, Mattel’s plaything, Vittorio Zunino Celotto, Barbie dreamhouse, Mary Jane heels, She’s Organizations: CNN, Paris, New, Hollywood Locations: ”, Las Vegas, Paris, New York, Los Angeles, tweed, Couture, Milan, Bahamas

☆ Asian stocks pause rally, eyeing China stimulus, Powell testimony
▼ + stars: | 2023-06-19 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Both S&P 500 futures and Nasdaq futures were mostly flat after Wall Street's bullish run met resistance on Friday. Cash U.S. Treasuries were untraded due to the Juneteenth holiday, while futures were largely steady. The People's Bank of China is widely expected to cut its benchmark loan prime interest rates on Tuesday, following a similar reduction in medium-term policy loans last week. Several major banks last week cut their growth forecasts for China after the recent disappointing data. U.S. crude futures fell 1.0% to 71.03 per barrel, and Brent crude was down 1.3% at $75.63 per barrel.

Persons: BOE, Jerome Powell's, bullish, HSI, Morgan Stanley, Robin Xing, Antony Blinken, Xi Jinping, POWELL, Powell, Ray Attrill, Brent, Stella Qiu, Christopher Cushing, Tom Hogue Organizations: Nikkei, . Federal, Nasdaq, Cash U.S, Japan's Nikkei, Bank of Japan's, U.S ., People's Bank of, National Australia Bank, The Bank of England, European Central Bank, Thomson Locations: China, SYDNEY, Asia, Pacific, Japan, People's Bank of China, .

☆ Twitter is a more dangerous platform for the LGBTQ community now than it was a year ago, GLAAD finds
▼ + stars: | 2023-06-15 | by ( Brandon Gomez | ) www.cnbc.com time to read: +4 min

Twitter is a more dangerous social platform for LGBTQ users now than it was a year ago, according to a new survey from LGBTQ+ rights organization GLAAD. GLAAD found that the platforms continue to fall short at establishing and enforcing safeguards meant to protect LGBTQ users from hate speech. "You can think of community notes as like an error correction on information in the network. And the effect of community notes is actually bigger than it would seem. The debate over a community notes approach is that it leaves the burden on those affected by hate speech to report harmful posts.

Persons: Kara Swisher, Sarah Kate Ellis, Jack Malon, we've, we're, Elon Musk, Musk, CNBC's David Faber Organizations: CNBC, New York, Facebook, YouTube, Twitter, GLAAD, Machine

WASHINGTON, June 15 (Reuters) - Miami Mayor Francis Suarez announced on Thursday he is running for president, joining a host of Republican candidates vying for the 2024 nomination days after front-runner Donald Trump faced federal charges in his city. Suarez, 45, released a campaign video titled "I'm Running," which showed him jogging around the south Florida city. "Being the only Hispanic candidate from either party allows me to connect with a growing segment of our population," Suarez said. Suarez has had thorny relationships with both Trump and DeSantis. He did not support Trump in his 2020 re-election bid and was critical of some of DeSantis' COVID pandemic-era policies.

Persons: Miami Mayor Francis Suarez, Donald Trump, Suarez, Reagan, Trump, Ron DeSantis, DeSantis, Suarez demurred, Katharine Jackson, Alexandra Ulmer, James Oliphant, Doina Chiacu, Alistair Bell Organizations: Miami Mayor, Republican, Reuters, Florida, Trump, Thomson Locations: Suarez, Florida, hypotheticals, Miami

☆ Fashion retailers resilient despite consumer fears
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

Shares in H&M gained 6% as analysts forecast a stronger third quarter after flat sales from March to May. Bank of America analysts said H&M's sold-out collaboration with luxury brand Mugler could also help boost half-year earnings expected on June 29. Despite sales falling, it said its focus on profit per order was paying off. The online retailer, bruised by shoppers' return to physical stores post-pandemic, has cut stock by 15% since the start of the year and said it was removing unprofitable brands from its platform. "While cracks are clearly visible in the U.S. consumer environment and to a lesser extent in Europe, Hugo Boss has been immune so far," Citi analysts said.

Persons: Sweden's, Inditex, M's, ASOS, Hugo Boss, Helen Reid, Marie Mannes, James Davey, Linda Pasquini, Sharon Singleton Organizations: Bank of America, Citi, Thomson Locations: U.S, Europe, China, Zara, London, Stockholm, Gdansk

☆ Bringing Sexy Back to the Movies, With a 2023 Twist
▼ + stars: | 2023-06-13 | by ( Leah Greenblatt | ) www.nytimes.com time to read: +2 min

Critics and audiences have long despaired: Where have all the romantic comedies gone? Though what hard-R shenanigans look like in 2023 — post-#MeToo, post-pandemic, mid-online culture wars — may necessarily be a very different thing than in 1993, or even 2013. Still, there’s novelty in seeing the Oscar winner Jennifer Lawrence sign on to a libidinous goof like “No Hard Feelings,” due June 23. She stars as a financially strapped Uber driver who agrees, for a fee, to seduce the awkward teenage son of a wealthy New York couple. The red-band trailer surpassed 45 million views in its first 24 hours online — a testament, perhaps, to moviegoers’ too-long-untapped appetite for cheerfully slapstick set pieces and “Can I touch your wiener?” jokes.

Persons: Bridget Joneses, Nancy Meyers, Jennifer Lopez, Josh Duhamel, Ana de Armas, Chris Evans, Reese Witherspoon, Ashton Kutcher, Jennifer Lawrence, ’ Organizations: Netflix, New Locations: ”, New York

☆ Gucci’s horsebit loafer is still a coveted status symbol 70 years on
▼ + stars: | 2023-06-08 | by ( Leah Dolan | ) edition.cnn.com time to read: +5 min

Despite their vastly differing personal styles and occupations, they have all been spotted in a pair of Gucci horsebit loafers. In mid-June, coinciding with the menswear shows at Milan Fashion Week, Gucci will stage an exhibition celebrating the legacy of its signature loafer. In 1974, George H. W. Bush wore a pair of horsebit loafers to meet then-President Gerald Ford. Through the decadesThe success of Gucci’s horsebit loafers has been far-reaching, and the secret to their ongoing relevance may lie in the shoe’s versatility. The horsebit loafer is Gucci’s answer to the near-philosophical question: What shoes do I wear?

Persons: George H, Bush, ’, Jane Birkin, Wiz Khalifa, Gucci horsebit, Gucci, loafers, Gerald Ford, David Hume Kennerly, Birkin, Francis Ford Coppola, Sophia Loren, Charlotte Casiraghi, Jodie Foster, Brad Pitt, Zoe Kravitz, Gigi Hadid, Guccio Gucci —, —, Aldo, Rodolfo, Vasco, Guccio, Serge Gainsbourg, Gucci’s, Alessandro Michele, JB Lacroix Organizations: CNN, Metropolitan Museum of, Milan Fashion, Golden Globe, MTV VMA, Savoy, Wall Locations: Cannes, Monégasque, London, Florence, Italy, New York, France

☆ A TikToker who posts about having a regular 9-to-5 job went viral on social media because users think his work life is 'depressing'
▼ + stars: | 2023-06-08 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

A TikToker posted his daily routine working a nine-to-five job and has gone viral on social media. The video sparked a debate amongst users about whether an office job is boring or peaceful. It has now received 76 million views on Twitter and over 500,000 likes on TikTok. The video has taken off on Twitter after one user commented: "This video was so depressing that I started tearing up watching it." But some are berating the negative comments saying young people are detached from reality if they think a stable nine-to-five job is something to fear.

Persons: —, Connor, –, 501c3, there's Organizations: Twitter, Service

☆ Apple's absurd price tag for the Vision Pro is part of a brilliant and proven strategy
▼ + stars: | 2023-06-07 | by ( Nicholas Carlson | ) www.businessinsider.com time to read: +4 min

Apple Vision Pro costs almost $4,000 after tax. At 7x more than the Quest 3, the Vision Pro should be far more powerful and capable – and of course, it is. Price skimming is a strategy where a company sets the initial price of a product very high, then gradually lowers it over time. It keeps profits high throughout a product's lifecycle: By pricing products high at launch, Apple maximizes its profits from these early sales. Given these red marks WSJ gadget reviewer Joanna Stern walked away with after using Apple Vision Pro for just 20 minutes, I remain skeptical…

Persons: Matthew Ball, Apple, Apple's, Tesla, Joanna Stern, … Organizations: Apple Vision, Apple Silicon, Apple

☆ Growing GOP field isn’t selling primary voters on why they should ditch Trump
▼ + stars: | 2023-06-06 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

CNN —The Republican presidential field is growing almost by the day, but no candidate has yet offered an effective answer to GOP primary voters on the race’s most compelling question – why they should ditch Donald Trump. Nikki Haley has been on the trail for weeks, appearing in a CNN town hall on Sunday in Iowa. No Republican voters will weigh in for at least six months in early state contests. There’s even less evidence that GOP voters believe that Trump’s legal problems disqualify him from serving as their nominee. In an NBC News poll in April, 68% of Republican voters believed that investigations into Trump were politically motivated attempts to stop him.

Persons: Donald Trump, Mike Pence, Chris Christie, Ron DeSantis, South Carolina Sen, Tim Scott, Nikki Haley, Doug Burgum, –, Trump, Chris Sununu –, CNN’s Dana Bash, He’s, ” Sununu, Haley, Scott, Asa Hutchinson, Pence, DeSantis ’, DeSantis, ” Trump, Sean Hannity, Mickey Mouse, Ukraine’s, Vladimir Putin, ”, Putin, Ronald Reagan, There’s, Jean Carroll, quagmire Organizations: CNN, Republican, GOP, Former New Jersey Gov, Tuesday . Florida Gov, South, South Carolina Gov, North Dakota Gov, Trump, New, New Hampshire Gov, Washington Republicans, Republican Party, Republicans, Fox, Walt Disney Company, Cabinet, United Nations, NATO, Justice, NBC Locations: Tuesday, Iowa, South Carolina, New Hampshire, Trump, Arkansas, Florida, Russian, Ukraine, Baltic, –

☆ Andrew Tate claims he’s a force for good. Others say he spreads a ‘misogynistic rape culture’
▼ + stars: | 2023-06-02 | by ( Sophie Tanno | ) edition.cnn.com time to read: +12 min

Emory Andrew Tate III is a 36-year-old professional fighter-turned media personality from Chicago who has racked up billions of views online for his rants about male dominance, female submission and wealth. In the years since, he has become a divisive online content creator with the self-proclaimed “misogynist” suspended from all major social media platforms. ‘Daily diet of misogyny’Tate has been accused of pedaling hateful views online and making his controversial lifestyle appealing to young and vulnerable audiences. Introduce the topic by saying you have read about Andrew Tate and ask if they have heard of him,” she suggested. According to Drummond, schools are being proactive in starting conversations that allow adolescent males to explore issues surrounding Tate and his ideology.

Persons: Andrew Tate, Lucy Williamson, Tate, “, ”, Williamson, I’ve, I’m, ” Tate, Jayne Butler, Tristan, Emory Andrew Tate, “ misogynist ”, Elon Musk, Vadim Ghirda, Greta Thunberg, ’ Tate, Hope, Georgie Laming, Tate’s misogynist, ” Laming, Alicia Drummond, ” Drummond, Drummond, Laming, Tommy Robinson, YouTuber Paul Joseph Watson, Alex Jones, “ Tate, Andreea Alexandru, can’t Organizations: London CNN, Wales, American, Twitter, Facebook, YouTube, Media, Elon, AP Tate, Romania’s, CNN, Tate, Management Agency, Hate Locations: Romania, England, British, Chicago, Bucharest, Britain, United States, Australia, “

☆ Macy’s slashes its full-year outlook even as earnings beat
▼ + stars: | 2023-06-01 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

The Macy's company signage is seen at the Herald Square store on March 02, 2023 in New York City. Macy's shares fell on Thursday, as the retailer slashed its full-year outlook and said it saw sales significantly weaken in late March. Macy's anticipates comparable owned-plus-licensed sales will fall 6% to 7.5% during the period, worse than its previous outlook of a 2% to 4% decline. Comparable sales on an owned-plus-licensed basis dropped 7.2% for the quarter, worse than the 4.7% drop expected by analysts surveyed by Refinitiv. Gennette said Macy's sales have gotten hit as customers' budgets are squeezed.

Persons: Jeff Gennette, Macy's, Gennette, we're Organizations: Herald, CNBC, Refinitiv, Macy's, Revenue, Sales, Nike Locations: New York City, Bloomingdale's

☆ Upscale homeware brand RH, which sells $5,000 dining tables and $10,000 couches, admits its pricing was 'arrogant'
▼ + stars: | 2023-05-31 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

RH, known for selling pricey furniture, says its prices have been "too aggressive" in the past. The CEO says its addressing this by lowering prices in its new collection, RH Contemporary. Analysts say this strategy could help it to woo aspirational shoppers who were priced out. But its newest collection, dubbed "RH Contemporary," will have a "value proposition that will be disruptive across multiple markets," he said. UBS analyst Michael Lasser said its new pricing strategy suggests that the brand is looking to court aspirational shoppers, which it may have alienated by previous price increases, in order to drive growth.

Persons: —, Gary Friedman, Friedman, what's, Michael Lasser, RH, Lasser Organizations: Contemporary, Analysts, Service, UBS

☆ This winning fund puts a spin on emerging markets investing with bets from Nvidia to Chinese spirits
▼ + stars: | 2023-05-28 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The Artisan Developing World Fund (ARTYX) is crushing the market this year by tilting the traditional investing principles in emerging markets. "These are companies that are based in developed markets but economically tied to emerging markets," Kaufman said in an interview. By domicile, Artisan Developing World Fund has just 57% of its portfolio in emerging markets. However, the emerging markets exposure should rise to 70% when looking at the economic exposure by revenue, Kaufman said. Other than those passport companies, the fund also invests in a slew of companies domiciled in emerging markets.

☆ Peloton aims to rebrand as a fitness company for all with focus on app, tiered subscription pricing
▼ + stars: | 2023-05-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +7 min

The ad solidified Peloton's nascent identity as a high-end bike company reserved for a certain type of person at a certain income level. "This company historically has been thought of as an in-home bike company for fitness enthusiasts but over the years, it has evolved into something that is much more bigger, much broader than that." The relaunch includes a "Gym" function that allows users to take Peloton's app into the gym with them and create custom workouts. 2 among those who have Peloton hardware. It shows how eager users are to consume Peloton content that has nothing to do with its equipment.

Walking away, President Joe Biden wrapped his arm around Zelensky’s shoulders. None of the G7 leaders are particularly popular at home, even as they produce results abroad. After all, it was Trump who had argued over dinner at the 2019 G7 summit in Biarritz, France, that Russia should be allowed back into the group. That level of chaos was nowhere to be found in Hiroshima this past week, when leaders appeared to generally like each other. Even before Biden left for the G7 summit, the stalemate over raising the federal borrowing limit prompted a scramble to rearrange the president’s engagements so he could return to Washington early.

Wyndham credit cards earn points you can use for free stays at resorts like the Wyndham Grand Clearwater Beach. But it's not just about value, because Wyndham Rewards includes upscale Wyndham Grand, Origin, and Dolce locations, and lifestyle brands like Tryp and Trademark Collection. The easiest way to earn Wyndham points is with the chain's co-branded Barclays Wyndham credit cards, and right now all three are offering elevated welcome bonuses for a limited time. You'll earn 50,000 bonus points after spending $3,000 in the first 90 days, and 25,000 bonus points after spending $10,000 within the first 12 months. Earn Wyndham points from Citi and Capital One cards insteadIt's worth noting that you don't have to open a Wyndham credit card to earn Wyndham points.

☆ 'Million Dollar Listing' brokers say now is the time for luxury homebuyers to scoop up a deal. Here’s their advice for buyers and sellers.
▼ + stars: | 2023-05-12 | by ( Katherine Stinson | ) www.businessinsider.com time to read: +6 min

The real-estate agents Tracy Tutor and Josh Flagg said now is the time for luxury homebuyers to act. Sellers must price their homes realistically, even if they are worth less than they were last year. Here's their advice for buyers and sellers in the luxury market. The Redfin study backs this up: New listings of luxury homes fell by 6.6% year over year. Price reductions aren't a bad thing in themselves, but Flagg said it's still typically a major turn off for luxury homebuyers — "even if it's a steal."

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