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So, Miami has become a billionaire magnet for the ultra-rich like Jeff Bezos who are snapping up ocean-front property in popular playgrounds like Billionaire Bunker, Indian Creek and Star Island.
But what about Fort Lauderdale? Once a Spring Break Mecca, “Fort Liquordale” is now a haven for millionaires who have been priced out of Miami and Palm Beach by billionaires.
Fort Lauderdale is in the midst of a real estate boom, with home prices skyrocketing to record highs.
“Believe me, I thought Fort Lauderdale wouldn’t bring in these kinds of prices,” Rick Teed of The Agency Miami told Bloomberg, which reported on this Fort Lauderdale migration trend. “I was just as surprised, but the market is changing.”