Destination malls, Investor Crowd Funding and more apartments will change the face of Southest Florida.
We are seeing the rise of denser, more urban areas with a variety of uses. People seem to be less interested in the traditional suburban environment .
“People want a to be surrounded by activities.
Some of the things we see impacting the region are:
1. An evolving global economy. Although property in the United States is still attractive to foreign buyers, slowing over seas economies and the rising dollart translates into a slower real estate market. It seems Foreign money in commercial and residential markets is moving away from large cities, to secondary less expensive tertiary cities.
2. Changing demographics. Boomers and millennials make up more than half of the country’s population. The boomers took a financial hit during the recession, the millennials do not have a lot of money so , both groups are showing a strong demand for rental housing. Because rents have been growing, they are seem to be very interested smaller apartments if there are large communal spaces and plentiful amenities.
3. Higher density and urbanization.” As roads become more crowded, access to transportation and live-work-play neighborhoods are becoming increasingly desirable as buyers demand cities that never sleep. ”
4. Housing is becoming less affordable, wages are stagnant and there is not a lot of affordable housing. At the same time, and rising rents and home prices will continue to squeeze the workforce.
5. The middle class is shrinking. The median income for middle-class households fell almost 5 percent from 2000-14. On top of that median wealth dropped 28 percent after the housing bubble burst. This is all affecting the retail industry.
6. The Drop in energy prices. The collapse in oil prices has threatened global economic security and decimated U.S. boom towns.
7, . The sharing a economy. Ride-sharing companies and virtual offices, are picking up steam. Some of these new enterprises are likely to muscle out traditional competitors.