The Rich Now Pay for a Four Pack

Generali

http://www.nytimes.com/2016/03/06/your-money/if-its-march-it-must-be-miami-when-home-changes-with-the-season.html?smid=tw-nytimesbusiness&smtyp=cur&_r=0

Oren Alexander, the Miami-based real estate agent to the rich, no longer thinks of his clients as second-home buyers. Today’s ultrawealthy, he says, are often looking for “the four-pack” — a pied-à-terre in New York, a beach house in the Hamptons, a ski villa in Aspen and a winter condo in Miami........

And as the rich own a greater share of real estate, major cities like New York, Los Angeles and London are going through a kind of “resortification,” familiar to posh beach towns or ski resorts, as their populations become more seasonal.

Sounds like a good reason to increase property taxes at the expense of other taxes: tax people that can afford to pay but don't even use services!

kinger101

With President Trump on the horizon, I'd be adding the nuclear bunker in Utah to my portfolio.

Generali

kinger101 wrote: »

With President Trump on the horizon, I'd be adding the nuclear bunker in Utah to my portfolio.

Better to get a nice place on the Nullarbor plain. 1,000 people (maximum) in a gazillion m^2 and only a few tens of km from the ocean.

Nobody will even drop a bomb on the Nullarbor.

michaels

So what would be a British Persons' 4-pack?

Should it be limited to the UK or include any where we have a right to residence or even just worldwide?

London (obviously) but then what Sandbanks? Salcombe? Edinburgh(sp)? Monte Carlo or perhaps St Tropez? Courcheval 1850, Zermatt, Klosters or Gstaad? Barcelona, Madrid or Seville? A greek Island? Paris appartment?

N1AK

Generali wrote: »

Sounds like a good reason to increase property taxes at the expense of other taxes: tax people that can afford to pay but don't even use services!

If it wasn't for the irrational negative reaction to the idea of old people having to pay more tax if they live in a multi-million pound house we'd have brought in some form of property tax years ago.

Malthusian

This is supposed to be new? Whenever I read Trollope novels or watch a play by Noel Coward or any other kind of fiction about the upper class, it always seems to revolve around the characters constantly moving from their summer house to their winter house to London to the Continent and round again. The wealthy have kept multiple homes to suit the season for centuries. I suppose moving all the time helps keep life interesting when you don't have a proper job.

Maintaining multiple properties is hardly the preserve of the "ultrawealthy", there are many middle class "second homers" with a city flat for weekdays and a country house for weekends who wouldn't even consider themselves rich. I wouldn't even say owning a family house, a city flat, a beach home and a ski chalet makes you "ultrawealthy", just bog-standard rich. And if they're all in the same country, well, frankly you're not even trying.

Next we'll have an article reporting with boggle-eyed faux-shock on how today's ultrawealthy like to wear pretty stones around their fingers and necks. "Today's ultrawealthy are no longer content with adorning themselves with shiny bits of flint and broken glass" says Madison Avenue jeweller Dusty McCredulous. "They insist on diamonds, rubies and oyster snot. It's almost like they've got a lot of money or something."

Generali

michaels wrote: »

So what would be a British Persons' 4-pack?

Should it be limited to the UK or include any where we have a right to residence or even just worldwide?

London (obviously) but then what Sandbanks? Salcombe? Edinburgh(sp)? Monte Carlo or perhaps St Tropez? Courcheval 1850, Zermatt, Klosters or Gstaad? Barcelona, Madrid or Seville? A greek Island? Paris appartment?

Mayfair, the Barbican, Westminster and Camden?

Seriously though I guess Mayfair in Spring, the Riviera in Summer, Greece or some such in Autumn and the Alps in Winter.

chucknorris

Generali wrote: »

Mayfair, the Barbican, Westminster and Camden?

Seriously though I guess Mayfair in Spring, the Riviera in Summer, Greece or some such in Autumn and the Alps in Winter.

If I was mega rich I would go for Jersey (main residence, looks nice, reasonable weather and low taxes), Surrey or Devon (for short UK summer breaks) and Spain or the Algarve (for longer winter breaks), but probably no 4th place (I don't see the need).

Generali

chucknorris wrote: »

If I was mega rich I would go for Jersey (main residence, looks nice, reasonable weather and low taxes), Surrey or Devon (for short UK summer breaks) and Spain or the Algarve (for longer winter breaks), but probably no 4th place (I don't see the need).

Nothing in London?

Wood Green is lovely I am told. They're getting the railway.

westernpromise

I'd have no interest in a holiday home in the UK. I can't see the point - rubbish weather and very expensive for what it is.

My choices for a city base would be a big two-bedroom somewhere like Little Venice, preferably with a communal garden; or perhaps somewhere atmospheric in Vienna.

As there is political risk in most places with really nice winter weather I'm actually a bit nonplussed as to where the winter sunshine retreat would be. Idealy, a flat with sea views somewhere reliably hot and dry like Abu Dhabi.

paddyrg

Shad Thames handy for the City yet residential with nice restaurants
Somerset or Cotswolds to not be in London
Chamonis for Skiing
Dubai to launder the ill-gotten gains and for winter sun.