Real Professionals Member, Mick Sticksma discussed property valuation in South Florida compared to the rest of the United States in his presentation to the group. The discussion covered a wide cross section of real estate including the surge in industrial prices in Miami – up to $160 per square foot driven in part by online giants including Amazon. The Miami market has seen a 68% increase in residential prices since its lowest point and experienced double digit gains in 4th quarter 2016. Mick also provided interesting statistics on buying power within demographic groups especially as it relates to the often discussed Millennial group. With Millennials making up 66 million of the population and Baby Boomers making up 76 million, the younger demographic only accounts for $200 billion vs $5.6 trillion of wealth respectively.

Guests from Bahamas and Puerto Rico discussed the opportunities in the islands such as tax advantages and beachfront properties for pennies on the dollar.