The American cities where billionaires are purchasing properties - despite well-known risks READ MORE: Moment family's home collapses after historic flash floods By Noa Halff For Dailymail.Com Published: 19:06, 27 August 2024 | Updated: 19:35, 27 August 2024 e-mail 8 View comments America's billionaires are still eagerly snapping up luxury properties in some of the nation's most desirable locations - despite major climate risks and soaring prices. Wealthy buyers are continuing to flock to coastal areas like Malibu, Palm Beach, and Miami - despite the risk of increasing climate disasters.
Industry experts reveal that billionaires are largely immune to typical home-buying hurdles, as they can afford top-tier protection against natural disasters and often own multiple homes to escape extreme weather. Recent high-profile sales highlight this trend, with Oakley founder James Jannard selling his Malibu estate for a California record $210 million in June, as reported by Realtor.com .
Supermodel Karlie Kloss and husband Joshua Kushner have also bought one of Malibu's most iconic beachfront mansion for nearly $30million. America's billionaires are still eagerly snapping up luxury properties in some of the nation's most desirable locations - despite major climate risks and soaring prices Wealthy buyers are continuing to flock to coastal areas like Malibu, Palm Beach, and Miami - despite the risk of increasing climate disasters Read More Billionaires' Isle beloved by Kardashians sees ho.