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Foreclosures Affect Luxury Yacht Market

FORT LAUDERDALE, Florida (AFP) — On the sun-splashed Florida peninsula, the US foreclosure crisis is sinking lavish lifestyles on land and at sea and luxury yacht owners are increasingly finding themselves high and dry.

The listing for a recent attractive property swallowed up by the crisis appeared to be a sea-front condominium: two bedroom/two bath, outdoor grill, water views, elegant and spacious. Satellite television and temperature-controlled wine cabinet included.