The Love-Your-Neighbor Boat

In case you were worried that the Great Recession had killed off conspicuous real estate consumption, fear not.

The Wall Street Journal reports that work has begun on a $1 billion cruise ship outfitted with 190 super luxurious private "oceanfront residences" priced between $3.9 million and $24 million.

True, many high end properties for landlubbers in Manhattan and Palm Beach are being marked down. But the owners of the Utopia - as the ship is so aptly named - believe these oceangoing units will sell because they combine home ownership and sumptuous accommodations with do-gooder activism.