7 Trends Affecting South East Florida

7 Trends Affecting South East Florida
11
Jun

Destination malls,  Investor Crowd Funding and more  apartments  will change the face of Southest  Florida.

We are seeing the  rise of denser, more urban areas with a variety of uses.  People seem to be less interested in the traditional suburban environment .

“People want a to be surrounded by  activities.

Some of the things we see impacting the region are:

 

1. An evolving  global economy. Although property in the United States is still attractive to foreign buyers,  slowing over seas economies and the rising dollart translates into a slower real estate market. It seems Foreign money in commercial and residential markets is moving  away from large cities, to secondary less expensive  tertiary cities.

2. Changing demographics. Boomers and millennials make up more than half of the country’s population.   The boomers took a financial hit during the recession, the  millennials do not have a lot of money so , both groups are showing a strong demand for rental housing. Because  rents have been growing, they are seem to be very interested  smaller apartments if there are large communal spaces and plentiful amenities.

3. Higher density and urbanization.” As roads become more crowded, access to transportation and live-work-play neighborhoods are becoming increasingly desirable as buyers demand cities that never sleep. ”

4. Housing is becoming less affordable, wages are stagnant and there is not a lot  of affordable housing.  At the same time, and rising rents and home prices will continue to squeeze the workforce.

5. The  middle class is shrinking.  The median income for middle-class households fell almost 5 percent from 2000-14.   On top of that median wealth dropped 28 percent after the housing bubble burst. This is all affecting the retail industry.

6. The Drop in energy prices.  The collapse in oil prices has threatened global economic security and decimated U.S. boom towns.

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7,  . The sharing a economy. Ride-sharing companies  and  virtual offices, are  picking up steam. Some of these new enterprises are likely to muscle out traditional competitors.