Hedge Funder Ed Lampert Is Shelling Out $40 Million For This home

[GTG]

I've always been surprised to learn that rich people in the states often buy a place just to level it and rebuild something new.

Whats up with buying a place to live in, or buy clear land to build on?

Often rich people are buying houses with unique locations. If Eddie Lampert really wants to live in an exclusive island off of the coast of Florida, he can't necessarily look at 10 houses and pick the perfect one that meets all of his needs. Only 30 lots exist on this island, and probably this is the only one that is for sale.