Quote:
Originally Posted by ASAP
The paragraph you mentioned says nothing about wage growth which is the real problem... as far as Miami and foreign owned investment; Miami Herald proved that only contributes to the issue by a few % points... lets make this clear the answer to everything is moving... weather, politics etc etc... however this should never be the only solution.
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What solution do you want? Miami doesn’t have a lot of room to keep building single family homes so supply can’t keep growing except through high rises. Force higher wages or cap real estate values through legislation? Neither is going to happen.
If enough people leave an area, demand goes down and prices go down. If people don’t leave or people move in, demand and prices go up. Eventually if employers can’t find workers because workers can’t find housing, they either raise wages or leave the area. I am not familiar with the Herald study but find it hard to believe there isn’t a more than insignificant impact from foreign and out of state buyers.