Just released! My 2024 annual Miami Dade real estate report is now live! Uncover Miami's hottest real estate trends & opportunities. Highlights: --> New product at prime locations continues to shine: we actually don’t have enough. Both condo and SFH transaction volume was up YOY past $1K / sq ft. SFH past $1K /sq ft hit an all time high and is up a remarkable 631% vs. 2019 (pre Covid) --> Despite fake, alarmist press headlines: Miami Dade overall inventory levels remain below 2019 (pre Covid) levels --> Speaking of inventory levels, this is truly shocking: Miami Dade SFH active listings below $500K are down 800% vs. 2019 pre covid. There are now only about 600 active SFH listings sub $500K in all of Miami Dade County. Pre Covid in 2019, there were over 3,500. I think the implications of this are obvious. And far reaching.
Empire cycles, Trump and Miami Real Estate
Download my full Q2 2024 Miami Real Estate Report
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).
All of Ana Bozovic's events can be seen here: https://analytics.miami/events/
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
History never goes backwards, and I saw clearly years ago that we are currently in the middle of the Venn diagram, with all 3 forces overlapping.
Recent events are characteristic of the empire cycle portion.
May 30: for the first time ever in American history, a former president is convicted of felonies.
June 11: for the first time in American history, a child of a sitting president is convicted of a crime.
July 13: there is an assassination attempt on a former president, and I believe it is the first we have had an assassination attempt on a current presidential candidate.
I have been saying for years that America is on the "Brazil Path". From now on I believe that every president will at some point be tried for crimes, and our country will continue to polarize on many fronts. Increasingly incompatible belief systems and realities will coexist across our nation.
5 years, 10 years, 20 years: they are all rounding errors when it comes to history. But for our lives, those time frames are very significant.
The human spirit and entrepreneurship flow towards the paths of least resistance. The country is reshaping, and South Florida is emerging as one of the places conducive to creation and growth.
While we cannot fully predict the future, we can at the very least, physically position ourselves to be in place that is on the receiving end of the wealth and talent.