Jonathan Miller Discusses Million Dollar Ghost Towns

It's hard to believe that someone would spend millions of dollars on a home that they leave sitting empty, yet these 'million dollar ghost towns' are starting to pop up in several pockets of the world, including along the East Coast of the US. BuyerMLS insider Jonathan Miller spoke on Huffington Post Live about this new phenomenon saying, "What we're seeing is the very wealthy have higher exposure to taxes, higher constraints on the businesses that they own. So they're looking to invest to preserve the capital that they have and one of the ways that they're doing it is investing in real estate. Ironically, we're seeing a lot of that in the US....and it is being seen as a solid, safe investment." Watch the full interview for a deeper exploration of the impact these high-end purchases have for real estate market as a whole.