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May 17, 2008 12:27:16 AM CDT

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Recession Not Slowing Ultrarich  

Posted Apr 14, 08 10:02 AM CDT in US,  Business    Editor's Choice

(newser) – As many Americans batten down the hatches, the über-rich are still living it up, the New York Times reports. Already this year, 71 New York apartments have sold for more than $10 million—compared to just 17 in 2007. The good times were so good, many say, they haven’t had to cut back on impulse purchases like yachts, Bentleys and dream celebrations.

“When times get tough, the smart spend money,” said one New York event planner. “Short of our country going on food stamps, I don’t think we’re doing anything differently.”

Source New York Times

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Recession Not Slowing Ultrarich
BIZ AUTO-BENTLEY 4 MCT   (KRT Photos)
Recession Not Slowing Ultrarich
A model stands next to a luxury Ferrari   (Getty Images)
Recession Not Slowing Ultrarich
In this photo released by the Coral Reef Yacht Club, 2008 Star Class World Championships Day One race leaders, from left to right, Mark Strube and Mark Mendelblatt, from St.Petersburg, Fla., in second...   (AP Photo/Coral Reef Yacht Club,Fried Elliott)
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