[City Guy997S]

Originally Posted by DanielAvery

The difference is that the people who build $10 million homes in "Hurricane Alley" have the means to rebuild if such a hurricane were to wipe out the house. They build right on the ocean because there is less of a gamble that it will ruin them financially. It might not even be their primary residence. Those people living along the rivers you mention would lose everything in a similar disaster so it's up to the government to try to safeguard their lives and property, while the super-rich are much more able to pay for their own rebuild.

A few considerations:

1. The build quality of the homes, newer homes seem to fair better/less damage
2. Palm Beach is essentially an island, connected to the mainland by bridges.....flooding is a real concern
3. South Palm Beach has cheap condos:
https://www.realtor.com/realestatean...=srp-list-card
295K facing the parking lot but it is an oceanfront building in South Palm Beach. The buyer of this type of property is not rich/billionaire whatever

[City Guy997S]

Palm Beach is wealthy, dry lots are selling for 10 million whereas years ago it was 3 million.

Big mansions like this are massively overpriced: Sold for 25mm in 2019 which was insane, asking 77mm today:
https://www.realtor.com/realestatean...=srp-list-card

From the property appraiser's site:
Total Market Value $42,645,599
Total tax $312,997 (annual property taxes).

The teardown house sold in 2016 for 9mm, then they built this house and sold for 25.5mm. County thinks its worth 42mm so maybe a gift would be a 50 million sale. 208 days on market at 77mm tells me its over priced.

Its right on the inlet, making getting that boat off the lift a dicey operation in changing tides, it has a lot of ships going to the port and weekends looks like spring break every weekend with peanut island in the background. Worst part for most people is that it is 4 miles from the bridge so you have a 8 mile commute at 25 mph anytime you want to go anywhere.

This is your backyard view:


https://www.youtube.com/watch?v=-qtQZp6oSQo

[kidyankee764]

Originally Posted by City Guy997S

A few considerations:

1. The build quality of the homes, newer homes seem to fair better/less damage
2. Palm Beach is essentially an island, connected to the mainland by bridges.....flooding is a real concern
3. South Palm Beach has cheap condos:
https://www.realtor.com/realestatean...=srp-list-card
295K facing the parking lot but it is an oceanfront building in South Palm Beach. The buyer of this type of property is not rich/billionaire whatever

South Palm Beach is not Palm Beach.

I also would not consider a gut job of a condo, with 1 bedroom and 700 square feet, facing a parking lot for 300k “cheap”. That’s $375 a square foot with $1,000 a month in community fees.