Quote:
Originally Posted by bobdreamz
Spare me please! I do know you are interested in Miami but it's not just real estate & tourism that are the sole engines of Miami's economy! That title is more adept to a city like Orlando than Miami's!
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Sure, there are other engines of the economy in Miami. But they are nowhere in the same league as other major cities in the US, in terms of effect that they have on overall civic economic health. Can those other industries truly succeed and allow for actual middle class prosperity (the foundation of any "real" major city) when a real-estate based economic form has become so dominant and unstable?
Miami is still a young city; basically established for tourism and likely will always remain primarily a tourism-centered economy. Unfortunately, in many respects, tourism is often intricately tied to the extreme boom and bust types of real estate economy that is the problem here. Real estate prices were so incredibly and unrealistically inflated, that the continued fall of those prices has been terribly damaging to the establishment of a consistent financial atmosphere in the region -- that's simply not good for the types of commerce which create sustainable prosperity in urban centers.
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