Millionaires priced out of Miami, Palm Beach by billionaires…

Millionaires priced out of Miami, Palm Beach by billionaires…

Millionaires who have been driven out of Miami and Palm Beach by an influx of billionaires have resettled in a different Florida city- Fort Lauderdale.

Super wealthy individuals like Jeff Bezos and Ken Griffin have snapped up homes in Miami and Palm Beach, driving up real-estate prices and squeezing out the less rich.

As a result, millionaires have created a lavish enclave in Fort Lauderdale, where thousands of college students celebrate spring break. 

The surge of millionaires in the city has led to a mansion-building spree and a rise in property prices.

One extravagant estate that features a pool deck covered with AstroTurf recently hit the market for $47.9 million, which was a 60 percent increase from what is was purchased for only 16 months earlier. 

Read More At Daily Mail

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Millionaires priced out of Miami, Palm Beach by billionaires…

 

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