Reuters: As hurricanes loom, many in Florida Keys flee

[gtalum]

As people move out and the labor market tightens, wages will increase. It's the law of supply and demand. Eventually the people buying the Million dollar homes will get tired of having no services nearby.

[gatorcane]

Yep I know about supply and demand. I am an MBA major.

[Aquawind]

Eventually the people buying the Million dollar homes will get tired of having no services nearby.

Curious.. How do those people who do not live here raise the rates for the local year round workers? They don't own the companies down here..they just visit. Could be a painful catchup period before that trickles down. Some of those people are stingy as ever and brag that's how they got rich. Heck they can bring most everything in from outstate if needed for only a month like many.

[gtalum]

I am an MBA major.

In that case I'll type more sloooooowly.

[Aquawind]

I am an MBA major.

In that case I'll type more sloooooowly.

LOL.. Be nice now.. You giving classes up there? I could use one..

[WeatherEmperor]

Yep I know about supply and demand. I am an MBA major.

Im assuming your getting your MBA done at FAU. Thats good! If you have an opportunity to get your Masters degree, go for it and dont look back. In the long run, you are gonna be happy that you got it. Im getting either my MBA at FIU or a M.S in Information Technology at Barry Univ. Especially considering so many of us here see that it is becoming more expensive to live down in Florida, it wouldnt hurt to try a Masters. Good luck in your program!

<RICKY>

[gatorcane]

Im assuming your getting your MBA done at FAU. Thats good! If you have an opportunity to get your Masters degree, go for it and dont look back. In the long run, you are gonna be happy that you got it. Im getting either my MBA at FIU or a M.S in Information Technology at Barry Univ. Especially considering so many of us here see that it is becoming more expensive to live down in Florida, it wouldnt hurt to try a Masters. Good luck in your program!

Thanks, good luck yourself!

[Aslkahuna]

People moving to North Carolina and Central America to escape hurricanes? That's like people moving from Alaska to California to escape volcanoes and earthquakes (which BTW they have plenty of in Central America besides hurricanes). I would sincrely hope that the people from the Keys stay away from Arizona. We've got enough idiotic FL drivers on our roads already.

Steve

[NCHurricane]

[gatorcane]

People moving to North Carolina and Central America to escape hurricanes? That's like people moving from Alaska to California to escape volcanoes and earthquakes (which BTW they have plenty of in Central America besides hurricanes). I would sincrely hope that the people from the Keys stay away from Arizona. We've got enough idiotic FL drivers on our roads already.

Steve

I don't think many people from Florida would move to Arizona - that would be a serious downgrade in lifestyle.

[Cat5survivor]

The world famous Holiday Isle in Islamorada is going to be demolished and replaced by a Luxury resort with Condo Units starting at $1.5 million....

[robag]

I also live in the upper Keys. I don't post here very often, but I read the board every day. I am a teacher and my husband is a police officer. We will have to leave our home of 20 years if the salaries can't keep up with the cost of living. The school enrollments continue to plummet and all we need is a direct hit this year to really cause people to move out for good.

[flashflood]

I also live in the upper Keys. I don't post here very often, but I read the board every day. I am a teacher and my husband is a police officer. We will have to leave our home of 20 years if the salaries can't keep up with the cost of living. The school enrollments continue to plummet and all we need is a direct hit this year to really cause people to move out for good.

I am wondering if the Keys is just the beginning of people leaving FL. My house here has tripled in value in the last 4 years and it's really tempting to "cash out" and move to TX where I can live off the profits.

It seems so weird to see real estate values increase as Hurricane activity and Hurricane landfalls increased. Last year I purchased a 2nd home in the Houston area as the prices are very reasonable. I just got my tax bill and my appraised value in TX, it went up 10,000 over last year. Now I am thinking that the Gulf States west of FL will be the next real estate boom despite all the Hurricanes that they had in the past few years.

[gatorcane]

The world famous Holiday Isle in Islamorada is going to be demolished and replaced by a Luxury resort with Condo Units starting at $1.5 million....

Yes I believe I mentioned that further up in this topic.

[jasons2k]

I also live in the upper Keys. I don't post here very often, but I read the board every day. I am a teacher and my husband is a police officer. We will have to leave our home of 20 years if the salaries can't keep up with the cost of living. The school enrollments continue to plummet and all we need is a direct hit this year to really cause people to move out for good.

I am wondering if the Keys is just the beginning of people leaving FL. My house here has tripled in value in the last 4 years and it's really tempting to "cash out" and move to TX where I can live off the profits.

It seems so weird to see real estate values increase as Hurricane activity and Hurricane landfalls increased. Last year I purchased a 2nd home in the Houston area as the prices are very reasonable. I just got my tax bill and my appraised value in TX, it went up 10,000 over last year. Now I am thinking that the Gulf States west of FL will be the next real estate boom despite all the Hurricanes that they had in the past few years.

If you look at the market data from National City, most FL markets are grossly overvalued whereas the Houston market is the most undervalued major market in the US. Selling now in FL and buying in TX is a very smart move, at least from a financial perspective. The TX market will tighten (it already is from what I have seen).

BTW - if your appraisal went up that much I would challenge it. Unless the property is in the Inner Loop, where values are skyrocketing just like FL, you have a good chance of winning.

[Cat5survivor]

The world famous Holiday Isle in Islamorada is going to be demolished and replaced by a Luxury resort with Condo Units starting at $1.5 million....

Yes I believe I mentioned that further up in this topic.

Sorry Boca_Chris, just wanted to emphasize that paragraph as I am appalled that this could even happen! Holiday Isle is the only place for the people of Homestead and Florida City to go to that you can spend a very pleasant Saturday (as my husband and I use to do when we were stationed in Homestead). Thanks for letting us know!

[MiamiensisWx]

If you look at the market data from National City, most FL markets are grossly overvalued whereas the Houston market is the most undervalued major market in the US. Selling now in FL and buying in TX is a very smart move, at least from a financial perspective. The TX market will tighten (it already is from what I have seen).

BTW - if your appraisal went up that much I would challenge it. Unless the property is in the Inner Loop, where values are skyrocketing just like FL, you have a good chance of winning.

Good points. The Texas areas may well be the next Florida over time as things continue, so it might be a good time now to snatch up a housing deal in Texas while selling a Florida home in some ways.

[Aslkahuna]

Apparently, a lot of Floridians enjoy a decline in their quality of lifestyle because we sure have a lot of them here and more coming in.

Steve

[Flakeys]

Hey,
More and more of my friends are cashing out and moving. Some hotels are closing off rooms because of lack of help. My favorite bar is closing Mondays to give people a day off. Still, wages are staying the same. No money, hurricanes and high prices for everything is booting us out.
I go by Holiday Isle everyday, and though losing the Mom and Pa hotels is sad, Holiday Isle going is great! Our quality of life will go way up with that dump closing,

Stan in Tavernier

[wxman57]

My father lives on Big Pine Key. I don't think he will be staying there much longer either. He loves the lifestyle, and for him it's not about the hurricanes, it's more about the cost of living getting out of control.

I don't think this is exclusive to the Keys either. We used to live in Tampa...and once upon a time a nice house there was affordable. Not any more, unfortunately.

You are right, I live in Palm Beach County right now and although I personally feel I make a good salary, I still can't afford the avg. cost of a 3Br 2BA home which is $400,000. I am seriously considering moving somewhere out of Florida

I don't know how people afford such high-priced homes. I bought my 3 bedroom/2 bath / 2 car garage home with a large yard in southwest Houston about 15 minutes from downtown for $78,000 12 years ago. It's now worth $150,000. Less than 3 years and it'll be paid for! The monthly payments on my 15-yr. $75,000 loan are about $1000 (with taxes and insurance). Can't imagine what kind of salary I'd need to buy a $400,000 house. Maybe $250-300,000/yr.?