The Case for Sunbelt Real Estate – WSJ.com

MIAMI BEACH, FLA.—You probably don’t want to hear this, but it’s glorious down here. Highs in the 80s. Lows around 65. The pools are busy.

Last week we had what the locals called “a cold snap.” You needed a sweater vest to eat dinner outdoors.

OK, hate me.

But it’s times like this that make you remember why all those Sunbelt states had a real-estate boom in the first place.

It may be hard to recall now, through all the drama and pain of the real estate collapse, but back in the bubble there was at least a smidgeon of method to the madness.

Associated Press

Hundreds of cars are were stranded on Lake Shore Drive earlier this week in Chicago.

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“Eighty million baby boomers are about to retire,” went the argument. “They’re not going to hang around in places like Chicago, New York, Boston and Pittsburgh all winter if they can help it. Slowly, population is going to shift to better climates—like Florida, Nevada, Arizona and California.”

Makes sense to me… from Florida.

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