Boston Real Estate for Sale

I couldn’t think of a better headline, sorry.

The rich folk down in Nantucket are fighting local fishermen for the right to protect their homes from a rapidly encroaching sea.

At the center of the dispute is a small patch of beach on the southeast corner of the island known as Siasconset, or Sconset for short. Some of Nantucket’s wealthiest residents — including cable-TV billionaire Amos Hostetter Jr., businessman Paul Soros (brother of George) and commodities trader Helmut Weymar — have stately summer homes on a bluff overlooking the beach.

But with erosion eating away at the shore, some of the houses are in danger of falling into the ocean.To solve the problem, Mr. Hostetter, Mr. Weymar and others have pooled $23 million of their own money to rebuild the beach. Yet local fishermen are fighting the project, saying it will ruin one of their prime fishing spots. They say the beach should be left alone, and that nature should trump money.

At least everyone’s taking reasonable points of view about the subject:

These people have enough money to move their houses or buy another one,” says Josh Eldridge, a lifelong Nantucketer who owns a charter fishing business. “If I lose my fishing business, I lose my house and it’s my only house. Unlike these other people, I don’t have a ski chalet in Aspen or a place in Palm Beach.”

First windmills, now this???

(*** Good news – if you feel sorry for the homeowners, they’ve set up a fund to help pay for the project. Donations are tax-deductible! ***)

Complete story: Plan to Save Nantucket Homes Pits Homeowners Against Fishermen – By Robert Frank, The Wall Street Journal

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Updated:  1st Q 2018

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