You Thought Palm Beach Real Estate Was Hot? West Palm Beach Isn’t Too Far Behind.

Six years ago, Michael and Roberta Joseph spent about $8.5 million to build a modern house on the water in Palm Beach, Fla. But Mr. Joseph, 62, was intrigued by the homes he saw across the Intracoastal Waterway in West Palm Beach. There, he noticed, older homes sat untouched for decades and coastal lots could be had for a fraction of Palm Beach prices.

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