South Florida surpasses New York City as cost of living climbs to record levels

[Docere]

In addition to the land constraints (and rising price of insurance?), I'm pretty sure South Florida is more first-generation Sunbelt (in line with L.A.) rather than second-generation (Arizona, Texas, Carolinas etc.) So it was going to max out sooner or later.

[DCReid]

Originally Posted by Docere

In addition to the land constraints (and rising price of insurance?), I'm pretty sure South Florida is more first-generation Sunbelt (in line with L.A.) rather than second-generation (Arizona, Texas, Carolinas etc.) So it was going to max out sooner or later.

What do you mean by 'max out'? If it's population growth, South FL has mostly a net outmigration, with people moving north to the outer edge areas (Port St Lucie/Stuart) and further north (Palm Bay) and even Orlando because those areas are much cheaper. South FL population only increases due to large immigration, mostly from the Caribbean and South Americas. If it is cost of living, places like LA, which you compare it to, are not getting cheaper despite large outmigration of people and businesses...Personally, I think people are not really thinking about the hurricane risks as much as S FL has not had a major hurricane since I moved down here nearly 5 years ago; the last two FL hurricanes shifted and hit the Gulf coast areas like Tampa and Cape Coral.

[iheartthed]

Originally Posted by Docere

I'm pretty sure South Florida is more first-generation Sunbelt (in line with L.A.) rather than second-generation (Arizona, Texas, Carolinas etc.) So it was going to max out sooner or later.

Nah, Florida and Arizona are more generational peers than Florida and California. Miami didn't even move into the top 10 metros by population until 2010, and Phoenix in 2020. Los Angeles and San Francisco were both in the top 10 pre-1950.

[Altoic]

Originally Posted by jd3189

With minimum wage still being $7.25 an hour, South Florida being more expensive is not a good look.

It's 14 and set to be 15 next year. Although at this rate it should start climbing to 20.

[bobdreamz]

Originally Posted by iheartthed

Nah, Florida and Arizona are more generational peers than Florida and California.Miami didn't even move into the top 10 metros by population until 2010, and Phoenix in 2020. Los Angeles and San Francisco were both in the top 10 pre-1950.

That's because it took the Census Bureau forever to add Palm Beach County to the Miami Metro! For some reason they only kept adding the populations of Miami-Dade & Broward Counties together but acted as if Palm Beach county was in another state!
It was truly bizarre because I knew people who lived in Boca, Deerfield Beach & W. Palm Beach but worked in Miami and would just get on I-95 and commute back & forth for an hour everyday! It took them over a Decade to double the lanes and that expressway is still clogged with traffic! If the Census had done its job correctly they would have known Miami truly was a tri-county Metro.

[chris08876]

Originally Posted by bobdreamz

So the 6th. Borough with plenty of land left to grow is now more expensive than the other 5 original boroughs?

Its the 7th borough or really a territory of the greater NYC country. Jersey City is the 6th, in which, Jersey City needs to reunify with the city. Upholding the One-NYC principle, reunification is a necessity because Jersey City is a rogue borough! If not, it will be taken by force by adding 1000's upon 1000's of New Yorkers to the area and displacing the residents there. And blocking out the precious sun with tons of towers!

As for South Florida, that's a territory. Colonization is going quite well. Likewise with Austin which is a penal colony for NYC tech bros that do a little too much acid.

[iheartthed]

Originally Posted by chris08876

As for South Florida, that's a territory. Colonization is going quite well. Likewise with Austin which is a penal colony for NYC tech bros that do a little too much acid.

Miami is to NYC what Austin is to the Bay Area.

[Gantz]

Originally Posted by jd3189

With minimum wage still being $7.25 an hour, South Florida being more expensive is not a good look.

How many people are actually making the minimum wage in South Florida? I suspect its only some kind of weird part time student/gig work.
Labor wages are not dictated by minimum wage laws, but by the market.

Only 82,000 individuals in the entire United States make $7.25 an hour.

[Gantz]

Originally Posted by Crawford

I still don't get it. If you have existing family there, or want the balmy winter weather, or want a Cuban cultural sphere, sure.

But otherwise, I'll never understand it. I thought the point of being rich is having the ability to do whatever you want, not to be forced to move family to escape taxation.

The rich are by far the most mobile to begin with. They do not spend 12 months of the year at one place. They also live in insulated communities anyway, to them, CA has equivalent amenities to FL. And if not, they will just bring those amenities over that they like. A bunch of chefs moved to Texas for example, following their Californian expat clientele.

Rich people didn't get rich by just pissing the money away. Everyone has a certain $ threshold where it makes sense to move - 10% or 50% or 90%. The higher you make that threshold, the bigger portion of people will move away. Also, its not like the high tax places provide any better government services that the rich care about. Roads, hospitals, emergency services are pretty much either busted or on par with any other place.

[chris08876]

The city will be fine without the ultra, uber wealthy. And besides, living in the city or being in a superior region such as the Northeast comes with the turf. Even with increased taxes, many if not most will stay. Its either that or a boring location. Eventually though, those states that they flee to will be forced to raises taxes to help the overall masses and those will come from the rich. South Florida is not immune, and once they start (if not already) having the issues of affordability, for the 99 percent... they too will tell those that can eat a million steaks and not go bankrupt to pay their fair share. For the collective good of society.

But yeah, the city will be fine. Let them leave. They may find that it sucks outside of NYC... they will be back.

This whole wealthy leaving NYC is just media bull shit. A few may but most won't. You know why? Because the NYC metro is where its happening. Not in the rust belt, not in most of the South but here. That's why. Hard to build a hedge fund in Mollassus, Arkansas or somewhere in the panhandle.

The fact that the cost of living exceeds NYC in South Florida is not a good thing. They too may find that folks will flee to better pastures and once the masses start fleeing, well... not good for the region in the long run. So.. they need to build more. Same with NY BTW. Build Tokyo levels of housing and don't be afraid to tell some snob to pay a little more. They will eat, they will eat just fine.