Miami is being bought up by foreigners even as the general American population in and around the city are watching their home values plummet, and face foreclosure. Miami will fall off the list in 10 years, replaced by Asian cities. But it will still be a favorite among rich Latin Americans who consider it second only to New York as the world's most important city.
(Photo via Forbes) More from Forbes
: Full List: Favorite Cities of the Super Rich America’s Most Expensive Zip Codes The Biggest Billionaire Home Sales of 2012 The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.