The Affairs Organizer Blog

“The term hails from a legend that Siamese royalty gave albino elephants — revered but financially ruinous to maintain — to unpleasant courtiers. Today, the financial burden of carrying an overly big, overly unique manse is being shared by many wealthy owners, who are finding out the hard way that not everyone is willing to pay up for their vision of a dream home. Realtors concede a growing number of these pricey pachyderms are sitting unsold for months and selling at steep discounts, if at all.”

Source: Christina S.N. Lewis – many thanks for her interesting WSJ article “The Stampede of White Elephants: Slowing Sales of Luxury Properties Reveal ‘Trophy Homes’ Weighing Owners Down”