It is an extremely tough life being a millionaire.
I admit, I wouldn’t want to live in Fort Lauderdale either.
But such is the burden of being a mere millionaire and just put upon by life.
Pretty soon, you are going to have to have a Black Mastercard before you are allowed to cross the Florida State line.
wealth goes where it is best treated
That is all well and good, but not the point.
The point is that greater wealth is literally crowding out lesser wealth.
Even the lesser wealthy are having to yield Palm Beach and Miami to the greater wealthy.
Curious about the insurance, but I suppose at that level does it matter?
I would hate to even THINK what property insurance on one of those mansions would cost.
Probably in the 6 figure range each year.
I can’t for the life of me figure out why someone who could afford to live anywhere would want to live in Florida, let alone South Florida.
Even for the 3 or so months of the year when the weather is bearable, the ocean is as warm as bathwater and the sudden influx of snowbird retirees overwhelms every restaurant, bar, etc.
If that’s your sort of thing, there’s nothing you can get in South Florida that you can’t get in Palm Springs, and you can do it year round, and you’ll have mountains to look at, without any of humidity, hurricanes, or the 5 or so 10-minute downpours each day.
not “crowding out” but raising the cost of living/housing
happens all the time
It is interesting the high number of ex Floridians we are getting here in North Carolina, in all parts of the State. While many are more typical retirees, we are also getting a substantial amount of millionaires in the State and in South Carolina as well. It is funny that many are ending up in Jasper County, South Carolina, which is just across the State line from Savannah, Georgia. I resided there for about three months in the early 1990’s, when it was a poor and backwards way stop on Interstate 95. It has now turned into a wealthy and white retirement enclave, driven mainly by people priced out of Florida. Hot in the summer, but not so continously overbearingly hot and humid as Florida and fairly mild the rest of the year.
Most of these people have several homes (or at the very least a second home) in other locations. They leave Florida in the summer.
I have property in Cherokee County, up in the mountains. I’ve had it for about 20 years with the intent to one day build on it and retire there. The locals don’t like all of the people from other states moving in at all.
Well, the locals can usually stuff it. They can whine about carpetbaggers, but then they sound like leftists whining about gentrification.
