This probably isn’t news to anybody who’s been paying attention, but The New York Post reports that dock space is so tight in Florida now that some owners are paying $1 million to reserve a slip even before their yacht is built.

With the influx of large yachts, owners are scrambling to find space to dock them (owners of 30-foot boats are having trouble, too). “South Florida has become a highly desirable place to live not just domestically, but globally,” Carolyn Stone, the deputy town manager of Palm Beach, told the paper. “There just weren’t enough slips to accommodate the bigger yachts.”

‍