Take the luxury-sports-car view of household wealth. For roughly 10 years, I had a used, triple-black midlife crisis Porsche Boxster S convertible that brought me hours of joy but was admittedly pedestrian in the luxury sports-car world. I’m going to use a real sports car in the application of a proper analogy of the surge in household wealth. I’ll explain. This weekend we stayed with friends in the Hamptons (on eastern Long Island), largely a second home luxury market east of New York City, and took a tour of all the homebuilding going on out there and believe me it […]

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