The Unaffordability of Miami (South Beach: best, property, metro)

[Cubanchic]

Bill

I also work from home and depend on the Internet and long standing relationships with folks I know in the mine sites in Latin America and export business in the area. I work very hard for my money and some years are very good other years it is pitiful.

When it is a good year, hubby and I lived very well when it basically comes down to his salary only then we feel the pain. Thank goodness we are NOT flashy, drive cars that are paid off and have excellent credit with very prudent and conservative spending habits.

Ex hubby, has all the toys, all the flash and is a business owner himself and in lean years I don't know how he keeps afloat.

So if business is good and the money is flowing then living here is really nice. I guess it all depends on your lifestyle and what your expectations are. We love boating so ex has the boat and we fill the tank at 600 to 700 bucks a tank full. The boys love to jet ski when we do weekend hikes to the keys so our third car a truck does the heavy lifting.

But for the majority of folks making say 60 k or below with a few kids it is a bit hard when you factor, insurance, rental amounts or mortgage payments, health insurance etc etc.

[BillS111]

Originally Posted by Cubanchic

Bill

I also work from home and depend on the Internet and long standing relationships with folks I know in the mine sites in Latin America and export business in the area. I work very hard for my money and some years are very good other years it is pitiful.

When it is a good year, hubby and I lived very well when it basically comes down to his salary only then we feel the pain. Thank goodness we are NOT flashy, drive cars that are paid off and have excellent credit with very prudent and conservative spending habits.

Ex hubby, has all the toys, all the flash and is a business owner himself and in lean years I don't know how he keeps afloat.

So if business is good and the money is flowing then living here is really nice. I guess it all depends on your lifestyle and what your expectations are. We love boating so ex has the boat and we fill the tank at 600 to 700 bucks a tank full. The boys love to jet ski when we do weekend hikes to the keys so our third car a truck does the heavy lifting.

But for the majority of folks making say 60 k or below with a few kids it is a bit hard when you factor, insurance, rental amounts or mortgage payments, health insurance etc etc.

Yes, that all makes sense. I am an outlier, and different from the 'typical American'. I have lived in tiny studio apts most of my adult life, rarely owned a car, and saved money. I am well positioned to live in Miami, even if i only make 50k per year in my business. Most years i make 6 figures, but it bounces around. I could even go a few years with no income at all, and i'd survive just fine.

There are plenty of 250 sq ft studios on SoBe. I should be able to get a place for around $1k/mo, and if not, i'll go up the beach where it's a bit cheaper. I am perfectly happy living in such a small place. I have no debt. I own no car. I own only a computer, and some furniture. My cell phone runs $50/mo. If i really scrape, i can still live very happily on $3k/mo.

I can go months at a time without eating at a restaurant, or going to a club. So the 'typical' warnings in these type of threads dont apply to me. All i need is food, shelter, health insurance, and to be able to go to the beach every day. If i can do that, i am happy, and i work more productively, and make more money. Then, everything else falls into place.

[LordHomunculus]

Originally Posted by BillS111

Wrong again. Business doesnt have to serve a 'select few'. If i have a business that provides better quality at lower prices to *any* income demographic, that business will grow. Doesnt matter where they're from, whether they're outsiders or not, or what language they speak.

lol. Of course a business doesn't have to serve a select few. A person can do whatever they want with a business. But I'm pretty sure a Lamborghini dealership isn't trying to adjust its prices for some low-income earner in Hialeah nor are they going to.

Also, thinking that factors such as local backgrounds, culture, income, etc. don't matter in a business environment is delusional. For example, there is a chance that my Billabong surf shop isn't going to thrive in an African American neighborhood in Minneapolis compared to Santa Monica. Why? because Santa Monica has and attracts people that can support such a business judging by local culture and other factors. There is a high chance that African Americans in a cold Midwestern city will care less about surfing compared to some guy in Santa Monica. So yes, where people are from, if they're outsiders, languages, culture, etc. matter as well with the quality and prices of goods.

All that matters is the overall wealth of a city..... that money eventually flows to the best businesses, and for that, Miami is well positioned.

Okay...My whole point was that you thought Miami is one of the wealthiest cities in the nation. You posted a C-D thread as your source. I addressed that and posted government Census data showing that Miami is actually one of the poorer cities in the U.S. according to median incomes in the Miami households. Then you looked surprised or something.

[BillS111]

Originally Posted by LordHomunculus

lol. Of course a business doesn't have to serve a select few. A person can do whatever they want with a business. But I'm pretty sure a Lamborghini dealership isn't trying to adjust its prices for some low-income earner in Hialeah nor are they going to.

Also, thinking that factors such as local backgrounds, culture, income, etc. don't matter in a business environment is delusional. For example, there is a chance that my Billabong surf shop isn't going to thrive in an African American neighborhood in Minneapolis compared to Santa Monica. Why? because Santa Monica has and attracts people that can support such a business judging by local culture and other factors. There is a high chance that African Americans in a cold Midwestern city will care less about surfing compared to some guy in Santa Monica. So yes, where people are from, if they're outsiders, languages, culture, etc. matter as well with the quality and prices of goods.


Okay...My whole point was that you thought Miami is one of the wealthiest cities in the nation. You posted a C-D thread as your source. I addressed that and posted government Census data showing that Miami is actually one of the poorer cities in the U.S. according to median incomes in the Miami households. Then you looked surprised or something.

You have trouble reading English. I never said those factors dont matter in a business environment. I said that they are factors that dont preclude a good business from growing.

[LordHomunculus]

Originally Posted by BillS111

You have trouble reading English. I never said those factors dont matter in a business environment. I said that they are factors that dont preclude a good business from growing.

I'm good at reading. You have trouble understanding and replying.

In order for a business to be good and growing, those factors are going to contribute and determine whether a business can be good and growing.

Basically, those factors DO matter if a business grows and the growth of a business is highly dependent on the business environment. Those factors DO matter even though you implied that they don't.

[BillS111]

Originally Posted by LordHomunculus

I'm good at reading. You have trouble understanding and replying.

In order for a business to be good and growing, those factors are going to contribute and determine whether a business can be good and growing.

Basically, those factors DO matter if a business grows and the growth of a business is highly dependent on the business environment. Those factors DO matter even though you implied that they don't.

Wrong. You said Miami only has a "select few", and therefore it's hard to grow a business.

Untrue.....i can have a business that serves the poorest of the poor, and if it gives better prices and quality, it can grow.

[Cubanchic]

Originally Posted by BillS111

Wrong. You said Miami only has a "select few", and therefore it's hard to grow a business.

Untrue.....i can have a business that serves the poorest of the poor, and if it gives better prices and quality, it can grow.

Business in Miami is very, varied! You can have a cafe or cafesito place in the right location and make bouko bucks if owner.

In my biz , export heavy equipment, damn the young ones try and fail all the times, but I AM getting older, the only assets I have is a old timer knowledge and these young kids seem to skip this step. My kidnapping insurance is getting a out of hand and I may convert for lesser pay as a consultant. In either case I am looking into retiring or selling this biz.

Hubby and me considered this and made plans, folks on this forum know we paid for about half of we could afford for our retirement home., we have and do live on one salary and we save the other money for retirement goals.

I see the writing in the wall and decreased income, but also decreased business exp. We are still considering other retirement options for our 80's.

[LordHomunculus]

Originally Posted by BillS111

Wrong. You said Miami only has a "select few", and therefore it's hard to grow a business.

Yes, a wealthy group of people that might support a business for a select few. For example, the Lamborghini dealership is going to be dedicated to a small percentage of wealthy people that are coming to or living in Miami-Dade. The wealthy customers will support the Lamborghini dealership.

Untrue.....i can have a business that serves the poorest of the poor, and if it gives better prices and quality, it can grow.

Yeah, will you have something that they want? Will you somehow convince them that they want what you're offering? Are you planning on selling high quality Ice Hockey equipment at low prices right across the Pork & Beans?

[BillS111]

Originally Posted by LordHomunculus

Yes, a wealthy group of people that might support a business for a select few. For example, the Lamborghini dealership is going to be dedicated to a small percentage of wealthy people that are coming to or living in Miami-Dade. The wealthy customers will support the Lamborghini dealership.

Yeah, will you have something that they want? Will you somehow convince them that they want what you're offering? Are you planning on selling high quality Ice Hockey equipment at low prices right across the Pork & Beans?

Yup, that's what you do in business. You convince people that they want what you're offering. It's called sales and marketing.

[Cubanchic]

Actually Bill, don't feel like you are being attacked, just that most of the working or middle class here in Miami are feeling the pinch lately and of course we are upset about it as expected.

I did like that you plan on hard times and don't mind reducing your expectation in order to make your business grow, very smart!

What ever business model you have, as long as it is viable in the long term and can support your needs, then it is a good one.

Sadly I have had to adopt, because of dying clients and contacts that are loyal to me and to my aging. Fine...endless sigh I was over it! Still I have to make this work for the next twenty years.

I am that stupid joke of the upper executive that dreams about the McDonald job.... Actually there was a position for a volunteer job feeding kittens for our local animal hospital and I cried to hubby for not being able to do this job now!