The home prices in South Fla are just not worth it in my opinion. You can get the same job in other areas in Florida and get a bigger house with acreage for the same price as a South Fla condo...
You are TOTALLY missing the point ... you CAN'T get the same job in other areas. What is UNIQUE to Miami is kind of hinted at in the title it has earned over the last 25 years "The Capital of Latin America". This has very little to do with the Cuban migration to Florida in the period 1960-1980, and much more to do with the dramatic evolution of Latin American specialty agriculture ... providing products to the US market during those months of the year when there is no domestic production.
In "the old days" table grapes were available for 12 weeks of the year out of California. Asparagus was available basically when California had production in late May through early July ... that's it ... no more. Fruits, vegetables, fresh cut product shipped daily by air. The list is expanding every month. Brazil, Argentina, Chile, Peru, Ecuador, Colombia, Guatemala, Costa Rica, Panama, Dominican Republic ... major growers in each country now have offices
IN MIAMI ... their primary arrival port (Port of Miami, Port Everglades, Miami International Airport). There are literally hundreds of thousands of Latin American business owners ... who own production operations in Latin America ... and either import / distribution offices (and second homes) in Miami for themselves and primary staffers.
There is a lifestyle available to these wealthy international business people that is NOT available to many back in their home countries. I worked in international agriculture for over 30 years ... Latin America on the sourcing / production side and the USA and Europe on the market / distribution side.
I recall sitting with a wealthy grower at an exclusive country club in Ecuador discussing aspects of life not related to business. We take things like our hobbies ... as well as the freedom we have to enjoy them ... for granted. My Ecuadorian grower asked what I normally did on weekends and I mentioned that I had a sailboat moored in Coconut Grove .. we sailed on weekends ... either Biscayne Bay, anchoring for the night possibly in the Keys or sailing to Biminia for the weekend. He said "that's wonderful ... we couldn't do that here ... if we anchored along the coast we would be robbed or murdered by thieves".
Many of the Latin business owners send their children to high school / prep school in Miami as well as to a variety of universities across the country. The driving force of the Miami real estate market IS NOT American's moving to Miami for jobs ... it has been the influx of a uniquely wealthy segment of Latin American individuals who can easily pay a very healthy price for a home and lifestyle that they don't have in their countries. There are areas like Key Biscayne that is most likely over 98% Latino based residents. Doral ... is virtually 100% (the mayor is Venezuelan). Coral Gables ... very strongly Latino.