Getting into the property market early

File under plutocracy… A Chinese mother buys a $6.5 million apartment in Manhattan for her (very young) child:

“We’re running around the city looking at things, and I finally said, ‘Why exactly are you buying?’” broker Kevin Brown, of Sotheby’s International, told CCTV News. “She said it had to do with her daughter, who was planning on going to Columbia or NYU, maybe Harvard, so she needed to be in the centre of the city, and that is why she was picking this one particular apartment,” Brown said. “I said, ‘How old is your daughter?’ And she said, ‘Well, she’s 2.’ And I was just shocked.”

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