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Old 02-22-2008, 08:28 PM
 
Location: Jacksonville,Florida
3,773 posts, read 6,989,396 times
Reputation: 1923

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Quote:
Originally Posted by Wild Style View Post
where to begin with that joke piece.

1. You noticed they named NONE of these multi national companies head quartered down there.

2. To even equate the "art district" with Soho demands that lady be slapped in the back of the head with a hose filled with sand.

All one has to do is go downtown Miami and see those office buildings and condos are are empty as heck and the ones that are standing have "space for rent" in front of most of them

They must have paid MSNBC to do that piece to lure more unsuspecting people to south florida.
If you look in Wikipedia they mention that there are 1400 multinational companies such as American Airlines,Exxon and Kraft Food to name a few,I believed they only mentioned 1200 on the video. I don,t have any statistics on the office vacancy I am sure I can find them,but at the same time neither does anyone else have statistics as proof.
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Old 02-22-2008, 08:45 PM
 
74 posts, read 436,137 times
Reputation: 156
Quote:
Originally Posted by kevinkagy View Post
Looks like it was a pro-Miami festival for MSNBC, a whole day promoting Miami across the country. I wonder how many people will decide to come and buy a condo or come for vacation after having seen this on TV lol? Here are some of the videos:

Ocean Drive: "Miami's Rodeo Drive"
msnbc.com Video Player

Miami: renter's paradise
msnbc.com Video Player

FIU South Beach Food & Wine Festival
msnbc.com Video Player

Miami on a budget
msnbc.com Video Player
GREAT LINKS!! THANKS.
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Old 02-23-2008, 01:58 AM
 
Location: Jacksonville,Florida
3,773 posts, read 6,989,396 times
Reputation: 1923
Quote:
Originally Posted by noland123 View Post
If you look in Wikipedia they mention that there are 1400 multinational companies such as American Airlines,Exxon and Kraft Food to name a few,I believed they only mentioned 1200 on the video. I don,t have any statistics on the office vacancy I am sure I can find them,but at the same time neither does anyone else have statistics as proof.
They did make a mention in the video that condo vacancy rates were high around 23,000 units had not been sold.
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Old 02-23-2008, 12:40 PM
 
34 posts, read 56,085 times
Reputation: 20
Quote:
Originally Posted by tallrick View Post
I still don't know why in the age of computers/internet anyone needs a "financial center".
Computers and the internet sure have made some peoples' lives a lot easier, mine included (I provide services to hedge funds and rarely have to go out to visit clients' offices), but you still need a home base.

What makes one place more of a financial center than another is a measure of the number of financial institutions or the total capital that is based there. Miami's status as a leading financial center and my desire to leave New York is what brings me here. With my background, and because I will have an MBA from one of the top schools in the country in May, I can only consider places that offer significant opportunities for financial professionals (I still have to pay for that MBA ).

I ruled out Charlotte based on a week long snore fest... I mean visit... late last year. And California is just too far away from my family, which leaves Miami. Having visited Miami many times now, I count myself very lucky that a place I enjoy so much also happens to offer someone with my qualifications enough career opportunities to make the short list. This isn't to say that Miami as a financial center doesn't pale in comparison to New York, it does, or that I wouldn't make significantly more money in New York in the long run, I would, but there are other things to consider, such as quality of life. And for all of the complaints that I've heard on this board, none of them are exclusive to Miami and all of them are present in New York, where I currently live, but where I currently live doesn't offer the year round opportunities to do more of the things that I enjoy with my limited leisure time.
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Old 02-23-2008, 01:11 PM
 
Location: Weston, FL
2,840 posts, read 8,963,817 times
Reputation: 1831
Miami has been a financial center for some time - this is nothing new given that we will always be the gateway to the Americas. And to those of you not aware of this, there are staggering amounts of money from other countries going through our banks - some legit and not.

Regardless of how advanced technology has become there will, for the foreseeable future, be a physical need to have financial centers as it legitimizes a city plus drives business, economy, and other opportunities. For many that may not be evident.

Yes there may be masses of "for rent/sale" signs which is an indicator of troubled times but this is not just Miami or Florida in general. This is not New York, Zurich, London or Dubai but we do rank. :-)
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Old 02-23-2008, 01:50 PM
 
Location: America
6,704 posts, read 10,826,282 times
Reputation: 1816
jhlcomp

I agree with you that Miami does do heavy banking with the Americas. But that video posed in the OP is down right deceiving.
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Old 02-23-2008, 10:43 PM
 
3,047 posts, read 4,861,629 times
Reputation: 860
Quote:
Don't believe me, look it up, and check out the rent prices (that have continued to go up) and look how they coincide with the available space (which is very little).
I think rent prices are going up not due to Miami's standing as a financial capital, but due to the higher class of renter who would normally buy, but who is too afraid to in this market; people who have managed to sell their homes before they depreciate any further, and is a different class of renter and so can afford more; and landlords who are forced to charge higher rents due to the sky-high non-owner occupied insurance and tax rates - soon to be added to mortgages adjusting upward.

It is not a sign of health in the economy by any means. In fact, it's more of a signal of the large divide between the haves and have nots, probably more evident here than anywhere else in the country. I think others here have made the point re the massive amount of available space.
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Old 02-24-2008, 07:24 AM
 
Location: America
6,704 posts, read 10,826,282 times
Reputation: 1816
Quote:
Originally Posted by fauve View Post
I think rent prices are going up not due to Miami's standing as a financial capital, but due to the higher class of renter who would normally buy, but who is too afraid to in this market; people who have managed to sell their homes before they depreciate any further, and is a different class of renter and so can afford more; and landlords who are forced to charge higher rents due to the sky-high non-owner occupied insurance and tax rates - soon to be added to mortgages adjusting upward.

It is not a sign of health in the economy by any means. In fact, it's more of a signal of the large divide between the haves and have nots, probably more evident here than anywhere else in the country. I think others here have made the point re the massive amount of available space.
thats a negatory sir, rents climbed because of high construction cost on new places, high insurance and high taxes. All that must be passed off onto the renter.
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Old 02-24-2008, 08:20 AM
 
Location: Heartland Florida
8,520 posts, read 16,520,426 times
Reputation: 3996
I wonder what will happen when there are no more tenants with the $$$ to pay those high rents? Many people I know with investment properties complain about a lack of good renters.
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Old 02-24-2008, 09:25 AM
 
3,047 posts, read 4,861,629 times
Reputation: 860
Quote:
Originally Posted by tallrick View Post
I wonder what will happen when there are no more tenants with the $$$ to pay those high rents? Many people I know with investment properties complain about a lack of good renters.
More foreclosures...
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