You think it's hard to find street parking near your two-bedroom apartment? Well, rich people have it even harder. They're running out of places to park their yachts.

Tough times for the super-rich right now!

Yes, according to Financial Times, a shortage of marina berths is driving up prices and turning docks into a hot new asset class for investors.

The total number of yachts longer than 12 metres, which are too big to easily store on land, was set to reach about 210,000 last year, according to data compiled by consultancy McKinsey, rising by about 8,000 per year. That compared with just 160,000 marina berths for such vessels.

The surge is even more pronounced at the top end of the market. The global fleet of superyachts — longer than 30 metres — grew around 40 per cent to reach 6,239 in the decade to 2025, according to industry publication SuperYacht Times.

Meanwhile, building new marinas is nearly impossible thanks to regulations, environmental rules, and a simple lack of decent waterfront land. A new marina takes five to ten years and adds about 300 berths on average. Demand is crushing supply so hard that some places have waitlists that stretch for years. Not to mention, berthing fees at premier locations have roughly doubled over the past decade.

Owners used to getting whatever spot they want now struggle to lock in a spot months in advance. Bigger boats need bigger, scarcer berths. The uber-rich are having an extremely hard time right now, guys, this is serious!

As you might imagine, the marina industry is no joke.

The industry is a $15bn market that will grow about 8 per cent annually to 2030 …

In a major deal that underscored this investment desirability, Blackstone paid $5.7bn last year for Safe Harbor Marinas, the largest marina and superyacht servicing business in the US. Then, this August, Blackstone's Safe Harbor agreed to acquire MarineMax for $1.5bn, paying nearly a 100 per cent premium for the company's share price before the disclosure of takeover interest in the group.

I can't forget to mention that Starlink has made yachts ever more popular, as rich folks can work from the middle of nowhere and be connected to the internet. The pandemic also helped this boom of yachts.

Unfortunately, we've got a shortage of parking spots for these yachts and now uber-rich people are forced to pay more for them. Sad!

Even worse for rich people who can't find a place to park their yachts, a bunch of socialists just got elected to run America.

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