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A few years ago I read about a possible tipping point for Florida: when the banks stop handing out 30 year mortgages. Banks are in it for the money and there's no money in houses or apartment buildings collapsing, flooding or filled with pythons. Those buildings may not *exist* 30 years down the road.
Talk about being underwater.
Hurricane season is fast approaching with a storm moving in as we speak. With Miami having flooded streets with every high tide there's not a lot of breathing room so to speak.
Although I understand those shoreline high rises are being snapped up by foreign investors looking to hide their money, there may still be an incentive to sell to the suckers while the cash is available. Still... Florida is a sand dune sitting on a sponge of limestone - they're going to run out of fresh water even before the tide laps up to their ankles.
As for the recent apartment building collapse... expect more.
-m
Talk about being underwater.
Hurricane season is fast approaching with a storm moving in as we speak. With Miami having flooded streets with every high tide there's not a lot of breathing room so to speak.
Although I understand those shoreline high rises are being snapped up by foreign investors looking to hide their money, there may still be an incentive to sell to the suckers while the cash is available. Still... Florida is a sand dune sitting on a sponge of limestone - they're going to run out of fresh water even before the tide laps up to their ankles.
As for the recent apartment building collapse... expect more.
-m
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