Q3 2024 has just closed out! The data continues to trickle in. I will have my full Q3 report ready for you next week. Today I would like to share a preview of some of the initial findings. Spoiler alert: the #LongMiami and South Florida thesis keeps playing out. Segments successfully catering to the wealth & talent migration: -> New product in prime location. -> Throw in in inherent scarcity, and you get the phenomenon that is our high-end SFH market.

Show Me The Money: A cash market is very unlikely to exhibit bubble-like behavior and it has a solid floor. The South Florida market is very heavy on cash. As data keeps coming in corroborating the South Florida & Miami story, various news outlets continue to publish unsubstantiated clickbait to the contrary. I have been seeing stories lately about "bubbles" and "froth". The question bears asking: what is a bubble and how / why do they pop? Asset bubbles are almost always the result of irresponsible usage of easy debt. When the underlying assets can no longer support the debt, prices quickly collapse. And in retrospect, we define said phenomenon as a bubble bursting.

Florida #1 for gaining high earning millennials & Miami cited by Knight Frank as the most transformative luxury real estate market, alongside Dubai & Palm Beach.

August 2024 just closed out, so it is a great time to get ahead of main stream media and to report the real Miami & Miami Dade real estate numbers.

Miami news: 2M+ ft² of office coming to Brickell 💰 Coconut Grove SFH sales past $1K already up 2,200% vs 2019 full year data. Follow the money & the jobs.

Watch Ana Bozovic's full 18 minute presentation at Rock The Market 2024, at the Hard Rock Hotel.

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.

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.