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Someone pointed out that lack of growth is treated as decline in our culture/economy. So the threat of climate change in Florida is that real estate prices will
by csours 3y ago
Someone pointed out that lack of growth is treated as decline in our culture/economy. So the threat of climate change in Florida is that real estate prices will stop growing - that breaks a fundamental assumption - line goes up - and that drives a race to the exit. So far this has only happened in some localities, so we'll see.
If my house is underwater fiscally, it may as well be underwater with the fishes.
- echelon 3y agoI'll gladly buy your Miami property for a discount. My thesis is it's not going anywhere in the next 100 years and that the prices will only continue to rise.
- mvid 3y agoIf you believe that, then you don't even need the discount.
- csours 3y agoI agree that the real bet is on the time frame.
- seanmcdirmid 3y agoFlorida real estate prices is incredibly volatile. They are in an upswing now (along with everyone else), but crash just as quickly. Land speculation is a risky business, but there is money to be made in Florida vs. more stable markets. > My thesis is it's not going anywhere in the next 100 years and that the prices will only continue to rise. I don't think you've looked at a graph for the last 50 years. In the end, they will probably rise if just because of inflation. The question is will it outpace inflation or crash. Frankly, the job market in FL isn't great for techies (although I interned for IBM at Boca Raton in 1995), so I haven't really looked into it.
- joquarky 3y agoSoon the insurance will cost more than the property.