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We have some of the best restaurants in the world. The beaches, the lifestyle, warm weather, arts, and the culture. All these things are an attraction for people to live here.”
Jill Hertzberg Broker at Coldwell Banker Residential Real Estate
instability abroad has impacted Miami real estate, more so than rising sea levels.
real estate brokers. “We have some of the best restaurants in the world. The beaches, the lifestyle, warm weather, arts, and the culture. All these things are an attraction for people to live here.” Hertzberg and Eber said new building codes and Miami’s culturally vibrant community, beautiful tropical beaches, luxurious architecture and active nightlife still attract buyers worldwide. “Regardless, everybody looks at the United States as a safe harbor,” said Eber. “It’s a great place for capital flight.” Beach Boondoggle Besides nuisance flooding the sea has been eating away at the shore, and the city has spent millions of dollars pumping up sand from the seafloor to replace it, only to have it wash away again after a storm or a hurricane, according to Robert S. Young, a coastal geologist at Western Carolina University in Cullowhee, North Carolina.
Young is a scientist that studies barrier islands like Miami Beach and is an expert on developed shorelines. Professor Young is a critic of beach “nourishment” efforts, where the federal government has been paying to pump sand onto eroding beaches — commonly referred to as beach nourishment. “There are two threats that South Florida faces from sea level rising,” said Young, the director of the Program for the Study of Developed Shorelines . “The first is the king tides or nuisance flooding, and the second is long-term coastal erosion.” Young and other scientists said that beach nourishment can end up encouraging development in areas vulnerable to flooding and hurricanes, costing taxpayers billions.
“The strong dollar has affected international buyers worldwide — from Britain to Latin America to Europe,” said Hertzberg, referring to strength of U.S. dollar compared to foreign currencies. “The people of South America are a large part of our real estate market. We are the gateway to Latin America. But they are going through some difficult changes right now in Argentina, Brazil and Venezuela. And they’re not buying like they did in the past.” Hertzberg added that Florida has no state income tax, which is “major attraction” for high end-buyers, saving them a fortune in taxes. She said the favorable tax environment was a huge draw for both domestic and foreign buyers alike.
“There are now neighborhoods in South Florida that have nuisance flooding
“We have such an incredible lifestyle,” said Eber, one of the country’s top
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