I am speaking at the same time day as this blog post: July 25, 2024. I will be speaking at the annual Rock The Market conference at the Hard Rock Hotel. We had well over 2,000 people attend last year, and this year is sold out again. My topic at Rock The Market: #LongMiami & Early Times, Is There Still Room For Growth? Short answer: the wealth migration has just begun and corroborative data keeps coming. As I keep saying: momentum cycles are real and they build. There is no going backwards. In the associated press this week: "Florida’s population passes 23 million for the first time due to residents moving from other states" And it is tax payers on the move, flowing out of high tax jurisdictions that were also high lockdown.

Recent events are very much in corroboration of internal disorder predictions I have been making for a few years. I have used a certain Venn diagram in every speaking even I have had since Covid 19. It is a powerful illustration of the three baseline forces feeding the momentum cycles we see around us now. And these momentum cycles are shaping our markets. (most notably the polarization of wealth & belief systems, both of which are fueling domestic intrastate migration). I have had full confidence getting behind a #LongMiami thesis because it was clear to me that we are in a period of rapid change. Three forces, throughout history, have ushered in periods of rapid change. They are: - Transformative tech adoption. - Wars - natural empire cycles

The Newsweek headline reads: Miami Home Prices Plunging. The article starts by saying that "prices of homes in Miami fell by more than 11 percent last month. That statement is false and misrepresents Realtor.com data. I have pulled pricing and listing price data for the city of Miami, for SFH and for Condos. SFH median prices in May 2024 were up 10% YOY, and median listing prices were up 75%. Condo median prices in May 2024 down 1% YOY, and median listing prices were up 18% YOY.

The Newsweek headline reads: Miami Home Prices Plunging. The article starts by saying that "prices of homes in Miami fell by more than 11 percent last month. That statement is false and misrepresents Realtor.com data. I have pulled pricing and listing price data for the city of Miami, for SFH and for Condos. SFH median prices in May 2024 were up 10% YOY, and median listing prices were up 75%. Condo median prices in May 2024 down 1% YOY, and median listing prices were up 18% YOY.