Paying essentially a 3% tax on your home so you can keep living in a place with depreciating home values[1] is wild. In an ironic way it reflects the financial illiteracy culture (faux rich people who are deep in bad debt) of Miami.
However for every Ying there is also a Yang so I too am interested in any factual data based replies or guidance please. And no, I am not looking to short REITs.
Some family members that owned in Florida for a decade sold a few years back after their costs began to balloon while other family members are still looking to move there in the coming years. Some can see what is unfolding, most cannot, yet all will pay given the systems current implementation.