Boom Amidst the Storm: Miami Real Estate Thrives Despite Climate Threats

Transcript:

Doug McIntyre: I don’t think there’s going to be a reverse migration from Florida back to New York and Michigan.

Millions of people move down there and millions won’t move back.

But people are going to leave.

People are going to leave some of these states.

I don’t know quite where they’re going to go, but you may actually start to see the populations in some of these states decline.

Dave Callaway: Yeah. But, you know, Doug, what’s funny is we really haven’t seen that.

I’ve been writing about this stuff for now almost five years.

And I mean, it seems painfully obvious that Miami was going to get to this point.

And yet the last five years have been some of the biggest boom times in Miami real estate history.

They’re calling it Wall Street South.

Everyone, all the hedge funds and LBO firms are moving their headquarters south down to Florida, get those tax breaks, no income tax.

And so, you know, it’s booming despite what’s happening.

So in that case, they haven’t quite yet hit the tipping point where there’s going to be an exodus.

But it’s supposed to be a big hurricane summer.

So we’ll see what happens.

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