Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Looking at Miami, one sees the kind of growth L.A. used to enjoy a few decades ago. The city population may be only 1/10th the size of L.A.'s, and the metro 1/3 the size of L.A.'s, but Miami is hot whereas L.A. looks to be cooling off.
Will Miami surpass L.A. as this nations # 2 city? If so, when?
No. Miami will NEVER surpass LA. Miami doesn't have the room to grow and even though some people say Miami has plenty room to grown or hasn't hit its potential, it has and will stop growing. The only way Miami will continue to grow is if they continue to build skyscrapers. Miami is very dense but there's just no more room. All of South Florida is not going to allow skyscrapers like Miami does. The principal cities are the only ones that are going to build the big skyscrapers. I think Miami will stop growing around 6 or 6.5 million maybe.
Looking at Miami, one sees the kind of growth L.A. used to enjoy a few decades ago. The city population may be only 1/10th the size of L.A.'s, and the metro 1/3 the size of L.A.'s, but Miami is hot whereas L.A. looks to be cooling off.
Will Miami surpass L.A. as this nations # 2 city? If so, when?
The city of Miami or the Metro? Who am I kidding, neither will ever grow larger than LA. Houston is way more likely to reach the #2 spot.
I am curious, what is fueling this growth in Miami?
I think one engine of growth is the Florida homestead exemption law which exempts real estate from bankruptcy, regardless of the value of the property. Sinking money into an expensive mansion or condo in Miami is an easy way to protect capital if you are in a risky business.
Beyond that, it's the allure of Miami Beach, the weather, the accessibility of the Carribean via boat, and the easy access from NYC (winter homes).
It's certainly not the job market.
Quote:
Originally Posted by munchitup
The city of Miami or the Metro? Who am I kidding, neither will ever grow larger than LA. Houston is way more likely to reach the #2 spot.
I am curious, what is fueling this growth in Miami?
I think one engine of growth is the Florida homestead exemption law which exempts real estate from bankruptcy, regardless of the value of the property. Sinking money into an expensive mansion or condo in Miami is an easy way to protect capital if you are in a risky business.
Beyond that, it's the allure of Miami Beach, the weather, the accessibility of the Carribean via boat, and the easy access from NYC (winter homes).
It's certainly not the job market.
Yeah, that's what I thought. That really makes me think it won't surpass the Los Angeles area; eventually the growth will tail off.
With that said both areas have an "allure" to them and warm weather, so I wouldn't expect either to have a decline ala the Rustbelt.
That is so far from true. There is plenty of land and there is opportunity to reclaim land, too. Miami is all about the high-rise condo, what they've built in the last decade alone cannot be ignored. Miami can handle another doubling in size without breaking a sweat. If L.A. stalls completely growth-wise, as it seems to be, then I figure 20-25 years and Miami (metro) matches L.A.
Quote:
Originally Posted by iMarvin
No. Miami will NEVER surpass LA. Miami doesn't have the room to grow and even though some people say Miami has plenty room to grown or hasn't hit its potential, it has and will stop growing. The only way Miami will continue to grow is if they continue to build skyscrapers. Miami is very dense but there's just no more room. All of South Florida is not going to allow skyscrapers like Miami does. The principal cities are the only ones that are going to build the big skyscrapers. I think Miami will stop growing around 6 or 6.5 million maybe.
LA County alone has 10 million people. Even if LA doesn't add one more person, there's no way Miami Dade/Broward/PBC can add 5 million people in 30 years.
Miami added almost 2.5 million people over the last 30 years - Greater L.A. added about 6 million. Miami is still so much smaller than L.A. but it is growing faster and has been for a while.
Quote:
Originally Posted by nowincal11
LA County alone has 10 million people. Even if LA doesn't add one more person, there's no way Miami Dade/Broward/PBC can add 5 million people in 30 years.
Los Angeles/Long Beach/Santa Ana
2000: 12,365,627
2010: 12,828,837
Difference: +463,210
CSA Miami: N/A
Los Angeles/Santa Ana/Riverside
2000: 16,373,645
2010: 17,877,006
Difference: +1,503,361
Let's assume that each MSA continues its current rate of expansion by population that occurred in the last 10 years. I realize this is highly unlikely, given the land and water constraints faced by both metros, but just for arguments sake.
The Miami MSA would pass the Los Angeles MSA in population in the year 2800. That is almost 800 years from now.
Houston has a much better chance of surpassing L.A., but even that is many decades away from occuring. But Miami? Not a chance.
Miami added almost 2.5 million people over the last 30 years - Greater L.A. added about 6 million. Miami is still so much smaller than L.A. but it is growing faster and has been for a while.
It's easy to grow fast on a percentage basis off of a low base.
What matters is raw numbers.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
