Influx of South Americans Drives Miami’s Reinvention

[spenser1058]

I liked this story in the New York Times about what's happening and why in Miami, and who's leading the charge:

 

http://www.nytimes.com/2014/07/20/us/20miami.html?hpw&action=click&pgtype=Homepage&version=HpHedThumbWell&module=well-region&region=bottom-well&WT.nav=bottom-well

 

“The Latin economic boom in the last 10 years has led to the creation of a huge middle class in countries like Brazil, Peru and Colombia, and they look at Miami as the aspirational place to be." It will be interesting to see   if there will be spillover for the rest of Florida or if we're destined to go in an entirely different direction.

 

For those who wondered why Miami has gone much more vertical than we have, here's one answer: "The South American infatuation with urban living has led to the explosion of lavish new condominium towers, with more to come."

[klstorey]

This is in part why Kaka is so important to Orlando. Brazilians will come to watch him play then stick around to discover Orlando, that in turn will help drive condo sales in Orlando's new (by then) hot neighborhood of Parramore.

[OrlFlaUsa]

So are the folks who are buying these condos in Miami actually living there or are these vacation/investment properties.

I went to Miami earlier this year for the first time in 8 years and expected to find a much more vibrant core than I last encountered, but no such luck.

[klstorey]

I stopped by the new Giraffas in Mills Park the other night. 3 families in there, 2 were Brazilians. Maybe it will draw more Brazilians into other areas of Orlando.

[spenser1058]

Bloomberg's take on Miami: it doesn't sound as though it is transferable to us:

 

http://www.bloomberg.com/news/2014-10-29/florida-condos-bet-on-americans-making-50-down-payments.html?hootPostID=36f8840d81b4025156ba7b37daec1435