Have you ever considered purchasing a home on a cruise liner? Utopia Residencies Co. believes there is actually a demand for these floating residencies. I found out about this cruise liner, which in some way is a hybrid form of real estate, in a Los Angeles Times article titled “For Sail: 200 Homes on Cruise Ship”. The Utopia cruise liner will cost an astounding $1.1 billion to build and will offer rooms ranging in price from $3.7 million to $26 million. To say the least, living on a cruise ship will not be cheap. Since this boat is constantly circling the globe, its residents will have the opportunity to experience almost every major port city the world has to offer.
To be perfectly honest I think this is one of the worst business ideas I have ever heard of. For starters, the United States and much of the world is currently experiencing a major economic downturn. The market for every form of real estate is in limbo. As if that’s not bad enough, the prices this company plans to sell each individual unit for are simply unreasonable. One can easily purchase his or her own private yacht for the same price as a measly condominium unit on this cruise line.
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