Think Miami is on it's way to becoming the next San Francisco???

[Cherisse B.]

I recently finished reading David Greene's BRRRR book (highly recommend), and there was a case study on the San Francisco real estate market (spoiler alert: he spells out how to spot emerging real estate markets... so many gems).

No shocker, Miami's currently considered a sellers market. There's super high competition even for off market deals, and with the rise of people working from home as a result of the pandemic, Northern workers are migrating to the warmer weather. But the general consensus for locals, like myself, has been that it would eventually slow down or reverse. I'm starting to realize that just may not be the case. Recently, the Miami Mayor, Francis Suarez, was quoted on a billboard in San Francisco, that stated "Thinking about moving to Miami? DM me." (pictured below)

Do you think Miami and the surrounding areas can expect a boom comparable to San Francisco's extreme price point increase? I'd make a calculated bet and say, YES. Would love to hear your thoughts and suggestions for those trying to jump into this already hot market. I have a few thoughts and strategies in mind myself, but looking forward to engaging with the community on this subject.