With the rest of the southeast having to endure the plight of low property values and brown grass, Palm Beach is having no such problems. In fact, the people there are enjoying the best of both worlds. They’re conserving water and still living on lush, green lawns. They’re watching their friends who are a mere two states above go belly up on real estate, while their livable nest egg continues to grow by leaps and bounds.
So what’s the secret for the fine folks of Palm Beach? For them, it’s all about timing. That - and having something that everyone else wants. In a round about way, the recent weather patterns have actually made their properties more valuable. The browner the grass gets in the coastal areas of South Carolina and Georgia, the more valuable property in Florida becomes. The Miami and Palm Beach areas have always been real estate hot spots, but it would be hard to guess that they’d see success while the rest of the free world struggled during what most economists would describe as a housing bust.
The good thing about ocean front or water based land in south Florida is that they aren’t making any more of it. Regardless of what the weather does or how someone’s stock portfolio looks, the sun is still going to set over the water down there. The water is still going to be blue down there and the beaches are still going to be highly desirable for people who have money to spend. That is the secret for the fine people of Palm Beach. It isn’t like that’s a well kept secret, either. The problem for those real estate owners elsewhere is that, even though they know the secret to increasing home value, they have absolutely no way of increasing theirs.
When the rest of the country snaps out of the real estate funk in a couple of years, excuse the residents of south Florida if they don’t bat an eye. For those with high value Florida real estate, the grass has never been brown and the outlook has never been anything other than merry.
