Capital Economy, Business and Finance
Donald Trump’s son-in-law’s brother has bought an historic beachfront Malibu home for the knockdown price of $29.5 million. The Wave House, sketched by the architect Harry Gesner as he floated offshore on a surfboard and likened by cognoscenti to the Sydney Opera House, went on the market last year at $49.5 million. It was snapped up at a 40 per cent discount by Joshua Kushner, Jared’s brother, and his wife Karlie Kloss, a model and entrepreneur who runs coding camps for girls. Unlike Trump’s Mar-a-Lago, the Wave House sits a good ten feet above high watermark, on stilts. So if rising sea levels drive Trump out of Florida, he may have a Californian escape. In related news, the Fed Chairman Jerome Powell signalled on Friday that base rates would start falling soon in the US, so monthly outgoings should fall too for Kushner, if he needs a mortgage.
