Do You Think the Economy in Miami is Getting Better or Worst? (Miami Beach: real estate, 2009)

[traveler36]

Please Refer to the Following Link: this thread was duplicated in Error.
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[traveler36]

Do You Think the Economy in Miami is Getting Better or Worse?

In terms of jobs, business opportunities, real estate etc.

[Wild Style]

Originally Posted by traveler36

Do You Think the Economy in Miami is Getting Better or Worst?

In terms of jobs, business opportunities, real estate etc....

unemployment is still climbing

business opportunities if you are industrious you can start your own business sure,

As for real estate do not expect Real Estate to "rebound" in your life time.

[tallrick]

Jobs? There are hundreds lined up for crummy construction work. Business opportunities? Too many regulations and extremely overpriced commercial real estate will keep a lid on that for a while. High insurance and energy costs do not help either. There is hope for real estate though. Prices still seem to be falling and inflation will drive up interest rates, halting speculation. The lower real estate prices fall the better things will be. Low property prices indicate strong economic fundamentals. Let's hope that can happen here.

[EnjoyTheSilence]

Miami, in its current form is simply unsustainable. Unemployment will continue to rise, especially as the construction boom was brought to a halt (thank god) by the recession and many of the greedy speculators and realtors looking to get rich quick, actually got burned.

Tourism in Miami is also on the major decline:

South Florida hotels see no bottom in tourism decline - Worldnews.com

It's not just the recession to blame, but also that other destinations are becoming more popular and Miami Beach is simply failing to compete.

@ Tallrick - prices may be coming down, but without jobs or decent schools, who will be able to move here? Do you honestly see any of those empty condos downtown filling up?

[matchpoint]

I think people around the country, not just Miami or Floridians, need to remember the world of business does not operate on cable news time (24/7 newscycle). People need to be more patient and more optimistic. I think the bulk of the stimulus money (most of which hasn't been spent) should be allocated to the top 100 cities. Why not put our money where it will do the most good, rather than send it out to the boondocks to pave the road grandma and grandpa use to get to town?

[cuba libre]

Real estate propped up this city's fake economy from 2000-2007. Now that's done, I wonder what will be next... Luxury used car sales? Drugs? Hotels and night clubs alone cant feed the demand for so many immigrant jobs... 3rd world banks from South American banana republics are also not the answer.

If Miami became a more "English friendly" city, I think Miami would be the "lion of the South", but its people are too stubborn.

[Wild Style]

Originally Posted by matchpoint

I think people around the country, not just Miami or Floridians, need to remember the world of business does not operate on cable news time (24/7 newscycle). People need to be more patient and more optimistic. I think the bulk of the stimulus money (most of which hasn't been spent) should be allocated to the top 100 cities. Why not put our money where it will do the most good, rather than send it out to the boondocks to pave the road grandma and grandpa use to get to town?

Optimisim and reality don't match up sometimes. It is better to be realistic.

[Leovigildo]

I think Miami would be the "lion of the South", but its people are too stubborn.
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Better be the head of a mouse that the tail of a southern o'possum.

[traveler36]

Originally Posted by matchpoint

I think people around the country, not just Miami or Floridians, need to remember the world of business does not operate on cable news time (24/7 newscycle). People need to be more patient and more optimistic. I think the bulk of the stimulus money (most of which hasn't been spent) should be allocated to the top 100 cities. Why not put our money where it will do the most good, rather than send it out to the boondocks to pave the road grandma and grandpa use to get to town?

I definitely think that this goes beyond a general panic because of 24/7 news about the subject. The climate in the economy has brought down powerhouses in the credit and banking industries across the world. I like to gather information from news as well as real life experiences to get a clearer picture, that's why I asked the question about what locals here in miami are seeing themselves because like you said the news is all bad.