• Palm Beach is facing a mansion shortage as the average price hits a new record of $11.7 million

    9 days ago - By Business Insider

    Summary List Placement In a year that has seen shortages of everything from semiconductors to chicken wings to rental cars , you can add beach-side mansions to the list.
    Palm Beach in Florida has long been an expensive real-estate market, and now it's even more difficult to buy a home .
    The price of a single-family home in the community reached $11.7 million last quarter, up 38% from the same period last year, CNBC reported. At $1,500 per square foot, Palm Beach properties are nearly as expensive as Manhattan ones.
    "This is a whole reset of the market," Jonathan Miller, CEO of appraisal...
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