News about Tom Brokaw

Ranches throughout the West are increasingly being purchased by wealthy Americans looking for a place to park their money. They were once valued based on what they could gain for their owner through the cattle trade. Sprawling planes and swaths of rugged mountainous terrain, often larger than some of the country's largest cities, now routinely change hands for sums over $50 million in states from Texas and New Mexico to Colorado and Montana. And real estate brokers who have worked in these luxury ranches for decades say that demand has never been higher and that supplies have never been more limited.

William Lauder, the billionaire and Estée Lauder's son, have been named as the mystery purchaser of conservative Rush Limbaugh's $155 million waterfront Palm Beach home. Kathryn Adams Limbaugh, 46, had the luxurious waterfront home on sale last year from $150 million to $175 million.