[tallrick]

With real estate prices falling, who will be the first city/county to meet the affordability scale for median homes? When will the median selling price in your county be at 3 times adjusted gross household income? When your county reaches that point let us know, because it's time to buy. Just want to see who gets there while other cities (like Miami) may never attain such economic stability.

[bale002]

It looks like parts of western Florida are already reaching that point, but it really depends on one's source of income, doesn't it? As measured by local economy standards, even towns like New Port Richey are still overpriced. But there is that segment of the population which derives its wealth and income from outside the local economy (WPB is a case in point, backed by recent statistics that I had access to, there are many other areas of Florida like this).

I agree that Miami may never return to balanced affordability across a spectrum of incomes and a decent quality of life for at least 2/3 of society (about the average in the classical capitalist US of yesteryear), it's most probable destiny is to be a South American city with the super-rich in enclaves surrounded by teeming masses of poor. Well, that's a bit of an exaggeration, but that's the general trend.

But who knows for sure?