Millionaires Settle for Fort Lauderdale as Billionaires Flock to Miami

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.”