Earlie, for the record, I think you're spot on about So Flo./Miami being the last to feel this...
Just spoke w/a realtor friend (owns company, 50 agents)..builds fancy-schmancy conds, sell homes...business great....
There is huge human flight now from Argentina, Colombia, and Venezuela....and these folks are coming to live, not wait out economic hurricane...they've sold their businesses, etc...ironically, international "crisis" help Miami economy in THAT regard.
I think with the pump...too...some are speculating in real estate more, and forgetting the market...
Demographics always in favor too of course....maybe even some moving here early; cashing retirement chips now (sick of market)....in all Florida, you can retire low, medium, or high-end, so if your port took a hit, likely a question of the size of house (or condo).....area has some tech, but fairly small, all things considered....most associated with Latin America, and are small offices (usually), in which they don't let a lot of folks go...always need 1 of everything for region (usually)
Of course, as you noted, boat builders likely taking up arsh, but that's a relatively small industry (hires)..
It'll be interesting to see how Argentine crisis effects this place....lot of exports to Brazil here...maybe we'll just make it up in Canadian tourists <G>
BTW- Eventually, of course, this place will feel the pain too...we're not very good at recognizing reality on a timely basis here <G> |
