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Old 03-26-2015, 09:12 AM
 
Location: In the heights
20,406 posts, read 21,931,674 times
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I wonder where Martha's Vineyard (County of Dukes County) places on this. It's interesting that some of the heavyweights in a lot of other city vs city discussions such as Boston, Philadelphia, Chicago, and Seattle don't make a showing on this list.
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Old 03-26-2015, 09:22 AM
 
Location: In the heights
20,406 posts, read 21,931,674 times
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Quote:
Originally Posted by anonelitist View Post
This is true. But $1,000psf is about average in the entire city nowadays. For high end stuff, that climbs. One can take out the yard and "waterfront" access/location you get in Miami. Also, the size of houses and condos in Miami is much greater than in SF. Miami tops out between $1,000-$2,000psf for its most luxurios condos and homes whereas SF will always see higher peaks and of course a MUCH higher average (closer to $1,000psf even for crap).

My point was about relativity. The point was made and disputed that the rich don't live any more "lavishly" in Miami than in the Bay Area.

I would argue that it's absolutely true that Miami is more lavish and it shows. It has NOTHING else to offer besides better weather 6 months of the year. Other cities with global elite are often far less "lavish" and lavishness is hardly embedded into the local culture. New York, perhaps, but $10M in NYC is not going to get someone anything as lavish as it would in South FL. Lavishness is so embedded in SoFla culture that even poor people are doing whatever they can to ride fancy whips or buy expensive clothing. The area is soooo poor yet filled with so many rich people (and not to be stereotypical, but many Latins are not so frugal) that one can't help but notice all of the poor people trying sooo hard to keep up with the Joneses, Joneses that aren't even there all year.
The bold'd part seems ridiculous. There's a really strong nightlife and music scene in Miami. There's a waterfront location that has clear, warm water. It has all of this while still having basic rule of law as it's in a developed country. It's also close to many developing countries south of it, so serves as a good basis for regional (Latin American/Caribbean) headquarters for multinational companies. It's also a major city when it comes media and entertainment--but much of it is actually in the Spanish language so unless you're taking in Spanish-language media all the time, it's easy to forget that. Miami/South Florida is pretty significant.
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Old 03-26-2015, 09:27 AM
 
Location: East Coast of the United States
15,726 posts, read 18,334,390 times
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Quote:
Originally Posted by kidphilly View Post
this is painful, funny, and ironic

another thread about such small proportions and almost certainly a demographic none on this site are in
Some people are plainly obsessed with other people's wealth. It hardly even matters if they will never know those other people in real life. lol.

That is why threads like this one persist. Then again, it can be informative to know where rich people are spending their money too.
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Old 03-26-2015, 10:39 AM
 
1,353 posts, read 1,144,421 times
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Quote:
Originally Posted by OyCrumbler View Post
The bold'd part seems ridiculous. There's a really strong nightlife and music scene in Miami. There's a waterfront location that has clear, warm water. It has all of this while still having basic rule of law as it's in a developed country. It's also close to many developing countries south of it, so serves as a good basis for regional (Latin American/Caribbean) headquarters for multinational companies. It's also a major city when it comes media and entertainment--but much of it is actually in the Spanish language so unless you're taking in Spanish-language media all the time, it's easy to forget that. Miami/South Florida is pretty significant.
As we've established, a rich person buying a home somewhere with good nightlife BECAUSE of really good nightlife is probably not that common, but it is also probably a flashy person to begin with if that's their basis for buying a $10M+ home (which plays into Miami being more lavish and attracting such people, particularly celebrities, musicians, and athletes).

Miami is in a developed country. But that doesn't distinguish it from lots of other cities in the US.

Basis for regional Latin/Caribbean HQ and banks does, but would imply all the rich people in Miami are Latins, when that is not the case. There are Europeans and domestic.

So it goes back to waterfront, clear warm water in tropical climate, place to park yacht, etc etc. That has to be a huge driver here. So if the driver is warmer climate and waterfront location that allows you to park a yacht in a developed country with laws and stable currency, and good nightlife, I think it goes without saying that Miami is a super lavish city with a lot of second homes for UHNWI serving as investments or bank accounts and pads for vacation/nightlife/yachting/warm weather getaways (while the rest of Miami is quite poor, uneducated, and in a vastly different situation though they have all of THIS thrown in their face all the time, so no wonder the attitudes down there are to try to keep up).
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Old 03-26-2015, 11:13 AM
 
1,353 posts, read 1,144,421 times
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delete.
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Old 03-26-2015, 11:31 AM
 
233 posts, read 432,820 times
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Quote:
Originally Posted by anonelitist View Post
Like I said, savvy investors know the long term potential for coastal CA areas to remain severely constrained and yet still be fed by 2 of the world's largest economies. Miami is less constrained, has no economy, and there are no concerns whatsoever about rising seas, hurricanes, water supply, or really anything. It's short term money, tax shields, currency protection/savings banks, more frequently than mentioned drug money, flashy foreigners (particularly Latins and Russians), athletes/celebrities/musicians, and the nouveau riche (and if just going by American Greed, plenty of scammers!).
Miami is pretty constrained geographically… there's a reason for all Miami multi family development occurring throughout the metro. Also I believe the California is in the middle of a horrendous drought and you're kidding yourself if you believe CA has no concerns ...mudslides, wildfires, and earthquakes. Actually I wouldn't touch Bay Area real estate… tech bubble 2.0. Miami's evolving with new museums, booming downtown, tons of globally significant events and believe it or not a growing tech sector. Actually the most intriguing startup in my opinion right now is based in South Florida… Magic Leap.
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Old 03-26-2015, 01:03 PM
 
1,462 posts, read 1,514,301 times
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Another day, another city with the next SV..
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Old 03-26-2015, 01:21 PM
 
233 posts, read 432,820 times
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Quote:
Originally Posted by RadicalAtheist View Post
Another day, another city with the next SV..
I think you read alittle too much into my comment... but Google inc, KKR, Kleiner Perkins, Legendary, Qualcomm, Entertainment, and many others wrote some big checks and appear to be just as intrigued.
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Old 03-26-2015, 01:35 PM
 
Location: Zurich, Switzerland/ Piedmont, CA
31,598 posts, read 53,313,339 times
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Quote:
Originally Posted by sofla
Actually I wouldn't touch Bay Area real estate… tech bubble 2.0.
Nope. This time around the tech boom revolves around physical products( like wireless devices and cars), real revenue earning products( social media ad revenue, data collection, etc) and so forth.

The residential and commercial markets markets are constrained due to a lack of inventory.

The Bay Area is now and has almost always been a much stronger property market than Miami. It's not even a question.

Quote:
Miami's evolving with new museums, booming downtown, tons of globally significant events and believe it or not a growing tech sector.
Downtown SF already kills your downtown and is still booming. Once again, no comparison.

Quote:
Actually the most intriguing startup in my opinion right now is based in South Florida… Magic Leap.
There are more "intriguing" start ups in my Palo Alto office park than the entire Miami metro. Trust me.
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Old 03-26-2015, 01:38 PM
 
Location: LoS ScAnDaLoUs KiLLa CaLI
1,227 posts, read 1,126,337 times
Reputation: 1179
>bragging about the super rich
>most people here live in a dirty apartment

Yeah...
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