Miami ranked Richest + Most expensive place in US (Mayo: purchasing, construction)

[mt971x]

According to a 2009 and 2011 UBS study of 73 world cities, Miami was ranked as the richest city in the United States, and the world's fifth-richest city in terms of purchasing power.

City Mayors: World's richest cities by purchasing power

[tallrick]

It is the city ranked #1 because the incomes are the lowest in the nation compared to its artificially high living expenses.

[Forest_Hills_Daddy]

I read in the NY Times that a lot of South Americans are moving assets to Miami.

If that's the case, what is stopping Miami from becoming the financial capital of Latin America?

[Bjorn_Ironside32]

Miami..the richest city in the US? .

[Kinetic_A]

If that is the case, why do I feel so poor?

[City Guy997S]

Originally Posted by Forest_Hills_Daddy

I read in the NY Times that a lot of South Americans are moving assets to Miami.

If that's the case, what is stopping Miami from becoming the financial capital of Latin America?

Yes, Miami inherits a lot of S. America's wealth due to the unstability of those areas (both financially and politically).

2nd Point....In the 80's Miami's branch of the Federal Reserve was collecting more cash than all of the other Federal Reserve branches COMBINED! Keep in mind the country was in a recession, interest rates were double digits but Miami was booming due to it's other famous trade of the day (drugs). Construction was insane back then also, several huge buildings were added to the Miami skyline back then using drug money funding.

[tallrick]

The best part is that when the hurricane hits, it all blows back to the corrupt south.

[xS☺B☺s]

Originally Posted by City Guy997S

Yes, Miami inherits a lot of S. America's wealth due to the unstability of those areas (both financially and politically).

2nd Point....In the 80's Miami's branch of the Federal Reserve was collecting more cash than all of the other Federal Reserve branches COMBINED! Keep in mind the country was in a recession, interest rates were double digits but Miami was booming due to it's other famous trade of the day (drugs). Construction was insane back then also, several huge buildings were added to the Miami skyline back then using drug money funding.

I think they were also stashing the money there that they were using to fund the wars they had going in Central America at the time.

[Bjorn_Ironside32]

Originally Posted by Kinetic_A

If that is the case, why do I feel so poor?

That's because our so-called ''leaders'' steal more for themselves than a group of thieves.

[WINTERFRONT]

Wasn't Miami the poorest city in America??

I always knew, though, one of our islands is the most expensive Zip Code in this whole continent.