Ryan & Ana On MIA
Ryan and Ana cover all things Miami development and real estate, the good, the bad the drama.
Ryan & Ana On MIA
The Miami Housing Narrative: Dissecting Myths and Markets in a City of Contrast
Uncover the untold story of Miami's real estate boom as we dismantle the skepticism that's been clouding the city's property narrative. Ryan and Anna are here to arm you with solid data as we debunk myths and highlight Miami's record-high median home and condo prices. Tune in to grasp the nuances of One Brickell City Center's leasing reality, and stick around as we dissect the city's economic bubble, contrasting it with national trends and the dire need for affordable housing amidst a sea of luxury.
The landscape of Miami is morphing before our eyes, and we've got the scoop on how federal funding for the Northeast Corridor project might just revolutionize your daily commute. We're mapping out the untapped potential of Miami's urban core, where undeveloped land awaits visionary projects like Edgewater's Mercedes Benz Residences. Anna and I explore how luxury brands are dipping their toes into real estate, elevating property to new heights of opulence and exclusivity—because who wouldn't want a car emblem as their neighbor?
Join us for an engaging look at the changing face of real estate in Miami, from the shrinking square footage of apartments to the jaw-dropping price tags on some of the city's most coveted homes. We'll also take you on a lighter jaunt through Miami's upcoming attractions from Battle Karts to the Museum of Ice Cream, because even as we navigate the serious issues of infrastructure, a little sweetness goes a long way. And don't miss our next episode, where we'll unveil a special surprise that's been brewing behind the scenes!
Hello everyone. Welcome to episode 17 of Ryan and Anna on MIA, and we've had further improvements and transformations here. Thank you, Ryan.
Speaker 2:I'm always upgrading, you know, it's, it's fun, it's like, oh, my sort of thing is always be constantly improving.
Speaker 1:Always like the city of Miami.
Speaker 2:Absolutely.
Speaker 1:Just why we're living rent free in their heads. There's been quite a few articles lately, sort of using anecdotal evidence and kind of light on data, that are trying to cast aspersions upon the hashtag long Miami narrative. I keep saying them and I'll say it once again I haters or fans too. We are living rent free in their heads. Why? Because we're taking their taxpayers. There's a few recently there was one in the real deal saying hashtag long Miami, how long can it last? And there were there's some. Not much data in that article, again, just some anecdotal points. Things about climate change, things about affordability issues and when was New York City ever affordable and when did it ever have great schools that didn't cost a fortune, in the city of Manhattan especially. And then there was a Yahoo article Yahoo Business, about paradise lost. It had a picture of the Miami skyline, but the article itself never mentioned Miami.
Speaker 2:Oh, my word that that that one really got me because it was about prices going down and things getting canceled and the Miami was the head, was like the the header, but there was no mention of Miami in the actual story.
Speaker 1:And there was no mention of Miami in the story and there was no data about Miami in the story and in fact in the month of March this year our single family home market hit an all time high median price point for Miami-Dade County at 650,000. That's an all time high. It is up over 17% year over year and the condo market is at 420, which is tied for the highest ever price. We hit 420 once before, I believe it was last August, and we're up 7% year over year for the condo market. Meanwhile, inventory, while it's off of the low, is lows, especially the condo market. It is still far below pre COVID reality. So we're a tighter market than we ever have been. So where is this pairs? Where's the data to support Paradise Lost?
Speaker 2:And speaking of data, you were recently. An article about a million dollars gets you in the building.
Speaker 1:Oh yes, that was an article that I contributed to in the South Florida business journal. Brian Bandela wrote it. He's a wonderful journalist. We've done lots of work over the years and it was a look at what's coming in the pipe wide and in the tri-county area. And I have this database of all the projects, your beginning price points, the unit sizes, all those things. And of all the projects in South Florida there are very, very few that are have any price point below a million and the few that do are at something like 750,000. And below that is almost not existed, unless we start looking at short term rental projects in the Miami core because zoning allows for it. But even then there's not many. That's it. It's basically in Palm Beach County has done.
Speaker 2:So what you were saying is that there are a lot of projects, that there's no normal projects in the pipeline?
Speaker 1:Correct.
Speaker 2:Like normal.
Speaker 1:Right, right Right when we start looking at price point below 700,000,. It's basically studios or short-term rental projects.
Speaker 2:Yeah, so, but I mean, it's just, it's interesting. I you know, I appreciate what the press does, but it's like they're they're always looking for the negative. They're always looking for, you know, if it bleeds, it leads, sort of thing. But at that same time, something that I've noticed recently is you know I not that I was reading a tweet about someone was talking about how the housing market had peaked out and the bubble had popped and they were somewhere else, I don't know where, like somewhere else, and it just really hit me that oh wow, miami is such a bubble I'm not talking about a real estate bubble is in like prices, it's just its own thing, it's own world. It's own world, like the rest of the country peaked out Like months or maybe a year ago and like it started to decline and things are not going as well here in Miami. I think it's own little like I don't know.
Speaker 1:It's part of that pattern of the country polarizing, which is something I've been talking about for a while. We're in that. We're in that that era of the empire of polarization, of wealth gap, belief systems, all of that, and I believe we're going to have increasingly incompatible realities coexisting across our country, and it's just part of that polarization process. Yeah, yeah, it's just. It's just. All you have to do is look at electoral maps. Yeah, how much the country's polarized.
Speaker 2:And I mean, for me it was like the realities are so different, right, exactly. And for him he was talking about something about his. He sold his house at the top of the last bubble and I'm like, are we still in it? And then I realized, oh, he's not here, he's not here, he's somewhere else, yep, and that was just like a real sort of like wow, yep. So Correct.
Speaker 1:And then one more. There was the Wall Street Journal again, which really seems to try to create negative Miami narratives, like that Brookings Institute that they had completely misconstrued last year that I had, that I talked about, where they implied that Miami had somehow lost all this population and no one else had, when in reality we had an uptake after PCOBA and New York LA, did not? The Wall Street Journal had an article talking about trouble in our office market. Yes, and the premise of this statement is that it was a fact that the building which building was it?
Speaker 2:I'm thinking right now oh one Brickell City Center.
Speaker 1:One Brickell City Center can't find an anchor tent. They're not done yet. I think they have two years to go.
Speaker 2:Well, the building that's there isn't even demolished. Yes, it's like still there.
Speaker 1:So there's like at least four or five years oh yeah, exactly More than two, so they picked this one little thing. Meanwhile, we have all this positive data in our office market, such as that 830 Brickell is 100% leased and expected to get their TCO shortly, and they of course they did it on there. They have Microsoft in there and the lease prices would have been records any other time. And then we have 2600 Biscayne, which is 50% lease before it even broke grounds. All these great things happening and our office vacancies half that of New York.
Speaker 2:Yeah, and then also there's a ton of projects that are in progress, that are still in progress. There's the one design district that is going to buy it, that our friend is doing.
Speaker 1:Oh yes.
Speaker 2:Yes, it's like a Japanese architect. That's right. That's right. I can't Sorry, I can't. Yeah, I'm like a Morari or something With an M. It's going to be a pretty cool. It's going to be like a StarCatech project, Right. And then you have the one that's going to replace the gas station by Northeast 36, which is like a 40 story class A office. You have 2600 Biscayne. What else is happening around there? There's just like there's so much happening, and just because one Brickal Center cannot find an anchor tenant like that's not. It doesn't mean it.
Speaker 1:No, nor are they in a time crunch.
Speaker 2:Yeah.
Speaker 1:Maybe they're just still looking for somebody really good. I don't know what's going on there, but this is not a disaster, yeah. Nor is it any indicator of overall office market health, and that was it that was your point.
Speaker 2:There was no whole deeper thing about it, it was just that it was that one Brickal Center cannot find anchor tenant. Yet that was the entire.
Speaker 1:It doesn't exist yet.
Speaker 2:Yeah, yes, and I don't even think. I mean, it took 830 Brickal a long time to get their anchors, it's a big deal, an anchor tenant's a big deal, yeah, I mean they have time, yeah, they have time so anyway, that was their point.
Speaker 1:So I expect to see more of these articles coming out Because we shall see. Remember, 1% of the top 1% of taxpayers account for 45% of tax revenue in high tax jurisdiction. So their departure accelerated, budget gaps, all sorts of issues. So I get it. And also people are resistant to change. It's a thing.
Speaker 2:And didn't. I don't know where it was, but I saw a story last week or a week ago about a $1 office buildings transfer.
Speaker 1:I forgot where.
Speaker 2:Chicago or LA or something.
Speaker 1:Basically. Take it, it's your problem now. It's like when they're trying to get rid of houses in Detroit and they can't get rid of them for $5, it's the same thing. Take them. Can you hold it?
Speaker 2:I don't know if I mentioned this last podcast, but there was one in LA that was a older office building and they are going to turn it into EV charging stations.
Speaker 1:That's a better use for it, I suppose.
Speaker 2:But it was just interesting because the building was so worthless it was better to use it as EV charging than it was the office.
Speaker 1:Fantastic. California's New York, I think, could save itself, but California I don't think. So I think they're so far gone.
Speaker 2:Well, speaking of California, did you see the results of their elections they had in San Francisco?
Speaker 1:Yes, they went more moderate.
Speaker 2:Yeah, which is insane.
Speaker 1:For San Francisco, for San Francisco.
Speaker 2:Correct and I've always said this for the past five years is that San Francisco was going to have to figuratively burn to the ground before it changed. I think it's finally gotten to that point.
Speaker 1:I hope so it could be. It's a beautiful place. It's going to be a great place to live.
Speaker 2:Yeah, and it's like I hope that the Macy's Union Square ware closing the Westfield Mall. Oh, that's that I saw the Westfield Mall has 85 closed stores, which is San Francisco's largest mall. There's 85 closed stores. But anyways, what I'm saying is all of those things is figuratively burning to the ground, Correct, and I hope this election result really helps push them in the right direction.
Speaker 1:Correct. I think they had some measures in there, such as welfare recipients taking drug tests. Yeah, people call draconian yeah.
Speaker 2:Yeah, it's a step. Yeah, also, speaking on our side of things, there's some exciting transit news. The Northeast Corridor got recommended for federal dollars to move it along and, just so you know, the Northeast Corridor is from Miami Central in downtown Miami all the way up to Aventura and that's the Brightland tracks, obviously, and right now there are stations in Miami Central and Aventura. That's where we have stations. What they're running is a. What they want to run is a local service that has stops in Winwood, the design district, little Haiti, 151 and Aventura. Well, like a local service and cheaper. Right trial was the assumed provider of this, but it would, because right now from my central to Aventura is about, I think, like 10 $15. Tri-rail would be like four or five.
Speaker 1:Like a regular computer local commuter.
Speaker 2:But it's a big deal that they got the sort of recommendation from the feds because the county and the state already have the other matching funds.
Speaker 1:Fantastic it is, we're getting transit everyone.
Speaker 2:Well, well, we're working on it. But it's good that, because I think you know one of the things that we have been our problem in my Date as far as transit goes is we always have sort of let perfect be the enemy of good. It's like, okay, we want to do this amazing thing, but there's not the political willpower, money to do it. We're not gonna do anything at all. Northeast corridor is low hanging fruit because the tracks are already there. Two of the stations are already there. So now you have to build like four or five like infill stations that are just stations, nothing fancy. So low hanging fruit. And this day and this day and age that still costs a half a billion dollars.
Speaker 1:Let's get it done. Yeah, fantastic the region is filling in.
Speaker 2:Yeah, so it's, that's good. Speaking of infill, last week I did a video tour of Edgewater with my Ray band glasses.
Speaker 1:James Bond spy glasses.
Speaker 2:Yeah, and it went over well. People really liked it. I just scootered around Edgewater and Sort of just like shot the different developments and the plots of land. That's me was. It was very interesting because I know and I read the stories every day and obviously one heard about it, so I really like focus on it. But just going there and seeing it and feeling it was a very Interesting experience to see it and to see everything that was happening, because there's so much. There was like Probably 30 or 40 projects from Northeast 19th 17th Street to Northeast 36th Street.
Speaker 1:How about that for their long Miami headlight? Let's compare how much construction there's going on in Miami versus New York City. Yeah, raw numbers little on a per capita basis.
Speaker 2:Just money projects, that's a hugely optimistic indicator. Yeah and it. I can always say this many times, but the fact that Miami still has so much raw land in the urban core is wild, yep 100%.
Speaker 1:it's like Monopoly. You see it, all these little pieces of land that have one for shopping centers or parking garages, whatever they are a laundromat yeah, they could all be towers, I know just crazy.
Speaker 2:Yeah, and that's lots of them, yeah, and you know it's, I think. But no, especially like where I live. I live in the arts and entertainment district, which is sort of across the street from here, and I live in a building that's sort of like surrounded by like one-story Things like in every direction. They're just like one or two stories. I just felt like this outpost, the canvas, is like just in the middle of what, in the middle like a field, but I look at it, I love my view. So you know I don't want to go away, but it's just wild to see that. And then you have the Metsha mover right there. It's one block south of canvas, so, and that means you can use the County Transit zoning. So it's just crazy that it's just there's so much space that you can build.
Speaker 1:Except Rickle. Rickle's built out.
Speaker 2:Well, speaking of Rickle, there's like a lot happening in Rickles. There is 1428. They got a loan recently. I think they got a mortgage, I think I'm mortgage for 1428 and also their historic properties, because it's white tech, right, that's they say white tech, white tech. They. They own the Chateau with the new restaurant there in Brickle and they own the historic manner. That's also 428, 1428 sales center. So they got like a mortgage for all of that, but that's good. Also, across the street, san Santander, santandir, is redeveloping their headquarters the ugly tan building, that's gonna be a thing. Two blocks north you have the Dolce and Cabana Residences. Right. Two blocks west you have the Cipriani and then you also have whatever that I can't pronounce it the one that Casa Tua is doing right, like all right there, right.
Speaker 1:Yep, the dome is breaking ground in April. Yes, exciting.
Speaker 2:Yeah, which and which dome is. Is that Okay? Where's that?
Speaker 1:I think it's it's West Brickle right, yes, yes, I just I forget addresses.
Speaker 2:Oh dry, I never know. And speaking of West Brickle, one Southside Park got a makeover. Oh, and is now the Mercedes Benz Residences that's right, and the sales which is wild.
Speaker 1:They're doing great. Yeah, it's being handled by Sir Hans, which recently moved down here.
Speaker 2:Yeah, I just, I just love that. I just cracked me up that like Mercedes Benz is like oh, we see this project in progress, we're just, you know, we'll just brand it because everyone else is branding one else is car everything is. There's one in Northland, the words, that's all that.
Speaker 1:Hagrid, hagrid on yeah, yeah, yeah, yeah. And I was just like huh, what the joke.
Speaker 2:I don't. Twitter is like we're gonna see, like the Kia and Chevy.
Speaker 1:Towers Mercedes, car Mercedes isn't exactly like that.
Speaker 2:Yeah, oh, and I, my OCD, was kind of like a little bit like because it's called Mercedes Benz places.
Speaker 1:What is?
Speaker 2:with an S, but like that's, that's its name it's called Mercedes Benz places. Well, I mean, it's like place, like a place. Oh, they're gonna build more of them, I guess yes, there's one in Dubai or something, but it's just funny because like it's the, it's called places, like, but it's like a building. So it's like a place, not a, not a, not a places, but like you could have called Mercedes Benz place, not places. I see, I'm like, is there? Anyways.
Speaker 1:I have two towers.
Speaker 2:The project maybe my OCD was like All accounts.
Speaker 1:I spoke to somebody from Sir Hans yesterday and, by all accounts, sales are going really well. They sold out all their studios.
Speaker 2:They sold a hundred units and wow, oh, and there's like, there's like 800 Units in that building it's two towers.
Speaker 1:Okay, it's like it's not a hundred. They told me it was like almost seven hundred between okay, ours, okay, some of their hotels right. So the first, they're, they're, they're, they're selling the first hour. The second tower will have the hotel component, but they haven't decided yet what the bride will be or what it will be. Okay they're selling the first hour, and the first hour they sold a hundred units.
Speaker 2:Nice in a very short amount of time, correct all the studios are good.
Speaker 1:Yeah, and the studios were somewhere in the 500,000. It's not terrible right back to the point. That's it. That's all that exists at anything below a million.
Speaker 2:Studios.
Speaker 1:Yeah, and they said the one bedrooms in the one bedroom dens were selling next and and they believe it's just because of the Price point, because there's nothing in the pipeline at that price point.
Speaker 2:Yeah, yeah, yeah it is. It always cracks me up because I'm you know I'll be on Instagram and all flip through. I don't know. They always get in real estate things. Because we're friends, I send you all the memes and it's I get a ton of the realtors doing like house tours Because and they're always in like Texas, like you know, somewhere down by the southern border, like middle a Freakin, nowhere, and like the. The thing will be like look what you get in Texas for like five hundred thousand dollars and it's like a castle. Take a four bedroom castle with like a, like a lagoon in the back and like, and the first thought always comes my head is like okay, so you have to drive 50 minutes to get to Walmart, to Walmart, like that, always the first thought that comes into my head prize.
Speaker 1:You're a Walmart.
Speaker 2:You're just surrounded and I go, the border is like right there, it's like you know, in your bag in your backyard it's like what? Anyways, I just cracked it and I watched them out of like oh, and then on the other side, so this is interesting. Yeah, I have the ones that's showing me in Texas with the mega mansions. And then on the other side I see these New York apartment tours that's like the size of this room and they're like 200 million dollars and I'm like, I'm like, okay, so Miami is not, is not that bad?
Speaker 1:Exactly. I asked them how big the studios were at the Mercedes Benz building and they told me something like 550 square feet and I went oh big.
Speaker 2:Yeah, like you're from New York, right, I'm like, yes, that's a big studio.
Speaker 1:He's like everyone else is like whoa small and I'm like that's fantastic.
Speaker 2:Well, I think there's something you have to remember in Miami that in the last boom in 2008 and stuff, they, the apartments they built, were huge, huge, right. I've lived in a couple of those Like great financial crisis era buildings Massive, they're like a one bedroom with Den is like 1300 square feet Yep yep, yep and now, and now we're on the other end was Dennis, like 800 square feet.
Speaker 1:Yeah, yeah, you know, because it costs much more to build out per square foot. It is what it is. They can't deliver below a thousand a square foot. So if the studios are in the 500,000, that makes sense, they're 500, some square feet, because you can't deliver below a thousand a square foot.
Speaker 2:Like you were saying, you know million dollars gets in the building.
Speaker 1:Yes, exactly right. Exactly right. For less you get a studio.
Speaker 2:Yeah, you also were presenting last night, right.
Speaker 1:Yes, I spoke last night at City National Bank, at their bank building in downtown, and it was a master brokers forum event I tend to not been three years in a row, would you like a market forecast, and it was a. It was a great event. It was kind of an update on what's been happening in our market. The audience is the odd and their audience is the highest, the best performing, I guess, brokers in South Florida. So it was real focus on how we have this channel of two markets which I've been talking about and how I led with, how we're living rent-free in the heads of all these publications. And then I had some updated charts showing the performance of various price sectors.
Speaker 1:One thing I do is isolate for price per square foot, because when you isolate for higher prices per square foot past a thousand, past 2000, you're really drilling down to a new inventory at prime location. And that's where we see the biggest disparity in performance in this post COVID versus pre-COVID reality. So, despite the overall market having fewer sales which I remember, the plurality of transactions are lower price points. The higher things past a thousand square foot are Five, six hundred percent higher than pre-COVID. And actually in the month of March January Sorry, not March January to February of this year We've had more sales of 1000 plus higher single family homes than any other start of the year on record.
Speaker 1:It was the highest, and the same thing for homes past five million.
Speaker 2:Wow.
Speaker 1:A single family in that context is actually outperforming the condo market In terms of relative strength versus pre-COVID, hitting those all-time highs for 1000 past 1000 square foot. Going back to what I've been saying is that you can't add more inventory vertically for single family. Yeah so single family at prime location is locking in land value as the region continues to grow.
Speaker 2:Yeah you have another engagement coming up soon, don't you?
Speaker 1:Yeah, a few actually. I'm doing one in in brickel In April, beginning of April, about dynamics specific to the brickel market and then I'm going to have one at some point, I think, towards the middle or end of April. It was rescheduled. That's going to be also a market update that one is going to be at at five park in Miami beach with Without what wrestle gal that, david Martin, jonathan Miller, who does the element reports.
Speaker 2:I talked to him sometimes, so and one other person if I don't know, so that should be fun cool, awesome. I wanted to Go through some of the interesting stories. This one is for you. Buyer is from the next Miami. This one says buyer in contract for Miami's most expensive home ever at 120 million At the shore club right. 120 million. Hondo, yeah and just say no. The previous record was for in Miami. It was with Ken Griffin who bought $60 million for two penthouses at Faena.
Speaker 2:Never lived in them by the way, oh no, you just sold them.
Speaker 1:Yeah, so he purchased them pre-construction and that was the record then at Faena. Yeah, and he never moved into those condos.
Speaker 2:They still own them.
Speaker 1:They were for sale. I think they may have sold. Okay, he was trying to sell them for a while. Ken Griffin just has this thing, it seems, for buying the most expensive property in whichever city he likes to set foot in. He did it in Chicago, in New York, in here, of course, in Palm Beach, he owns that mega sort of estate that he's been adding to, and so, faena, he purchased pre-construction and word is that he walked in and didn't like the view and didn't want to live there and just never lived in it.
Speaker 2:Must be nice, I know.
Speaker 1:And then, relatively speaking, though, it is not anywhere close to being his most expensive real estate purchase.
Speaker 2:Okay, could he bought Adrian Arches former home?
Speaker 1:Yep, and in Chicago he has some colossal expensive properties also, and so $60 million for him. I'm not sure if it's in his top five of property purchases.
Speaker 2:Wow, speaking of Ken Griffin, he just recently announced that he's going to be starting work on developing his Brickle land, the one that he bought from Florida East Coast. Really. But yeah, he's going to do it and it's going to have a luxury hotel at the top, designed by the same people who did design for Florida East Coast reality, but a different design, right, because every user like this used to be like the Twin Towers, but now they're going to do like a luxury hotel at the top. Yeah, fun, yeah, it's going to be good. You know, I think Ken Griffin is really a positive ad to Miami.
Speaker 1:Ken Griffin tends to be very active in whichever city he lives in. He was in Chicago. I think that he will be here, it's a good thing.
Speaker 2:Also, speaking of news, remember we said we're going to get the Kia Tower. I was only like halfway joking, Right, yeah, so the Toyota Tower, what's happening? So do you know where the Staples is? Here on the Skain? It's sort of like by Paramount Bay, Anyways. So last week a company bought the Staples and they're going to put a Kia dealer there across the street from Braman, which is interesting. But they did say that they are going to build a presidential component, so it's going to oh my goodness, so it might actually be the Kia Tower.
Speaker 1:So Ryan just manifested this it's the Kia Tower. Remember people, what you say has power. Your words create your reality and Ryan has created the Kia Tower. Rachel, think better next time.
Speaker 2:I was like, wow, I had said this back. Then they were doing the whatever car Brentley thing. I was like, oh, what's next? Kia Tower. However, I am excited because I do drive a Kia. I drive the Kia EV6 and the only Kia dealers thus far are out in Dural and down in South like way South-state. Those are the options for me right now. So I'm excited to have something that I can walk to Right, because you know, I do need maintenance sometimes. So, but I was entertained. He did say that it's owned for 36 stories, so they'll put some sort of Kia Tower.
Speaker 1:That's fantastic.
Speaker 2:And then also another institution from next Miami is World Center, where the arena used to be the old arena, like by the Bright Line Station. They got approved their waivers. They're going to have 2350 units in three towers on that site. That's a massive site, a massive site and that is a huge. So you guys know, world Center sort of backs up to Bright Line, but right now there's a sort of a gap between Bright Line and World Center because it's like a giant piece of land. So this project is very integral because it will connect Miami Central to the World Center, which will be great. I am excited about that. And also, speaking of my World Center, the Apple Store is now official. Okay, it's almost done with construction, which is hilarious, but it's now official. It's going to be in World Square and apparently it will open next year Fantastic. So and then also, I think it's coming yeah, the Museum of Ice Cream is also opening.
Speaker 2:We have to go. We do have to go. I love ice cream. Oh, also, we need to go. I was telling Rose about this. We need to go by my house. There's this new thing called Battle Cards. Oh, it sounds like fun. It's like in real life Mario Kart and you're in like little go kart-y things, but they have like a screen on them and they have like power-ups. Oh my God, that's so cool.
Speaker 2:And you can like I guess slow your friends down, or like have to do this. Yeah, it's literally like right here, it's like across the street.
Speaker 1:Francesca too.
Speaker 2:Yeah, it's like blacklight and all that. So I walk by it every day. Also interesting the new hotel at MIA is in permitting. They're going to demolish, I guess, the old one and they're going to build a very nice looking modern Westin at MIA. I have some interesting thoughts about that.
Speaker 2:It has had some problems recently infrastructure-wise. The Sky Train is down you for flying, so you probably know. Yeah, the elevators and escalators are having problems and, as you know, this year is an election year. So it's like I'm a little. I'm going to introduce you to what happens, because I think I don't know.
Speaker 2:I think Daniela might have some problems, because I've been telling people this like listen, miami-dade and Miami have always had problems with infrastructure. We just do Part of the charm of living here, but normally the things that are broken are behind the scenes. There's like a sewer problem or whatever something's happening. But what's happened recently, this year specifically and last year, is that the very visible stuff has broken and that is not good because that's what people see and that's what they remember. So like the escalators and metro mover, metro rail elevators, things like that are broken.
Speaker 2:The SkyTrain at MIA, that's a problem because that's what people remember. It leaves an impression and people remember that when they go to the voting box. So it's not looking good for Daniela, unfortunately, and I don't know what that means as far as what we'll get. And I think she's very nice. I have nothing against her, but the way she's allowed the narrative to sort of spiral on these issues is just not good. To recap, I just don't know what that means for her in this election and, like I said, she's nice and she's done some good things, but when you have visible stuff broken, it creates a narrative that's really hard to fix.
Speaker 1:People can use it against you, obviously.
Speaker 2:Exactly so. I think people already are sort of using it against her.
Speaker 1:Hopefully it gets fixed.
Speaker 2:I hope so. I hope she can pull it out. I think there's going to be a lot more happening this year as well Lots of products popping off. My next tour, then, doing with my glasses, is going to be like my World Center in Park West. Ok, so I'm excited about that. That is fun, and we will at some point launch our new venture Every thing that's coming. Yes.
Speaker 1:I apologize, little lady. I had a rather challenging start to the year. I didn't basically sleep for two months. That's OK, so we're better now. I was in Albuquerque last week.
Speaker 2:She looks very refreshed and relaxed.
Speaker 1:I had a very interesting real estate exploration there. We went to Bandelier National Park and they have these cliff residences and I had to climb these high ladders and all these things and get into these cliffside aboes that the Native Americans occupied until the 1550s and it was really interesting to see how people lived.
Speaker 2:Wow, I love your condo tour. Condo tour of the cliffside residence.
Speaker 1:I mean, that was the pad back in the day.
Speaker 2:Great views, but the access is a little tricky.
Speaker 1:Right, or you know safety. Take out your enemies. You see them coming, just throw rocks at them and you can't climb up. So that was my first station. Oh no, it was part of my thing. Also, I'm an optimist about the trajectory of humanity and I think that you have to be, because if you're not, you're going to put yourself in a losing position. If you're an optimist, you can align yourself with the upward trajectory, and there always is one. Yes, people always negative, doomsday stuff. Would you choose to live 500 years ago? No, I would not. I wouldn't choose to live 50 years ago or 100 years ago. There's no other. When was it better? Yeah, people decided this. So walking through ancient cave dwellings, I think, helps one to gain perspective.
Speaker 2:Yes, well, guys, thank you so much for listening and watching and we'll look forward to seeing you guys in two weeks. And can we launch our thing?
Speaker 1:We think that everyone.
Speaker 2:Thanks guys.
