“The world is awash in cash”

So says Kevin Ahearn, the president of condominium marketing and brokerage firm Otis & Ahearn, in explaining why a condo in the Back Bay was just sold for almost $4,000 per square foot.  (Story.)

Those who like to ogle the pads of the rich and famous (or merely rich) can check out some of the Mandarin Oriental’s condos here.  A sample:

Boston’s luxury housing market is booming (hence, the condos that sell for $8 to $12 million). It’s a fascinating example of the economic “recovery,” i.e. a recovery that has left some “awash in cash” and others… not so much.

Readers, thoughts?

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