Miami now least affordable city to live in / Real Estate

[HJCane]

According to the Corcorran Group Miami is now least affordable with Rents rising faster than any other city in America. Home prices are soaring and this trend is NOT expected to abate any time soon.

 

[NO.SHORECANE]

Anybody living in Brickell already knows this. Ouch!

 

[grbcane]

Anybody living in Brickell already knows this. Ouch!

I can only imagine what‘s going on in Miami, since what has happened in the neighborhood I grew up in. It sounds like south Florida housing has sky rocketed above the national pace.

My dad was an engineer and architect. He designed and built our house in Plantation Acres.

It was just a regular house nothing extravagant. When my mom found out the prices houses are selling for from old neighbors I couldn’t believe it.

 

[grbcane]

I meant to respond to HJCane

 

[NO.SHORECANE]

Prices in Palm Beach County are skyrocketing as well.

 

[grbcane]

Prices in Palm Beach County are skyrocketing as well.

The house my wife grew up in Key West was just bought for 2 million, they bulldozed the house for a rebuild. Basically they paid 2 million for a small lot.

 

[krvanness]

I grew up on 136th Street and 78th Court, literally RIGHT next to Howard Drive Elementary. We moved into the house in 1965 when I was 6. It was brand new with a pool(every house had a pool). 3 Bedrooms, 2 baths, 1700 sq ft. Ranch. Nothing fancy, believe me. My parents paid $25,000 for the house with a 5.5% 30 yr mortgage.
I just looked it up on zillow and the Zestimate is $796,700.

 

[genghiscane]

Wow. That’s saying something. Of course we know why usually high rent districts like San Fran and NYC are dropping. But Honolulu? Boston? The usual suspects

 

[Neil 212]

Home prices all over the state have increased a lot recently, although it’s from a lower base in the rest of the state. Obviously, the policies of the state government have made Florida a very desirable place to live. People are willing to pay premium.