These days, it's not just the weather that's hot in Miami. As South Florida becomes a hub for cryptocurrency investors and remote workers, housing costs in the area have soared.
Data from the University of Florida's Shimberg Center for Housing Studies show that prices in Miami-Dade County, home to Miami, Miami Beach, and other municipalities popular with new arrivals to the state, have returned to levels not seen since the mid-2000s housing boom, a period of intense real estate speculation in the region that forced millions into foreclosures in the aftermath of the Great Recession. Meanwhile, Housing and Urban Development Secretary Marcia Fudge declared in a recent visit to Miami that the city was the epicenter of the country's growing housing crisis.
