State of miami condo market after collapse: "no one in right mind" buying pre 2000

[Demovictory9]

[belpejic]

1. At some point Miami is going to economically collapse

Because of climate change. Maybe this is one of the first dominoes to fall.

[sanatanadharma]

2. Read about the Florida land boom post WW1 and the 1929 market collapse

I may be wrong, but I remember being informed about the Florida land boom and its role in the post WW1 economic surge that collapsed in 1929 because there wasn't enough real value behind the speculative market.

The south Florida high rise boom seems to be backed by actual infrastructure and actual working humans (see Adam Smith).
But, when the buildings fall into the sea, we will no longer see people gathered, working, spending and generally shoring up the promise for the future that keeps too many of us saying "the rich deserve it, they earned it" BS.

The current world-capitalist system of "suck-up" is a 'swamp' without foundation; the rock and stone of stability is no longer regularly repaired with the mortar of reinvestment
Rather, the rich continue sequestering the bed-rock capitol as personal wealth; thus bridges collapse, generations are go uneducated, towns are poisoned, factories abandoned, etc.