Many people don’t go deep into real estate supply and demand research, but I do. Florida is very unique because it has a land-lock geographical condition. Florida is a pan-handle shaped state sticking out into the Caribean sea. It’s completely surrounded by oceans. On the west front, it’s facing Gulf of Mexico. On the east front, it’s facing Atlantic ocean. This is a typical land-lock formation. What is “land-lock”? Land supply is limited. In the middle of this state, most of the available land are now prevented from development to protect rain water migration from North to the Ever-glade National park in the south. The only available lands are concentrated along the coastal regions. During the past 6 years, most of these developable land were already reserved by big and small builders. Even during the current housing recession, most of them are still holding tight to these land with something called land purchase options. Therefore, as people continue to migrate in from other states in the US, and more and more people (with money) migrating in from South American countries, land supply will be diminishing very fast within the next 20 years. I am seeing that a rapid urbanization will happen in next 2 decades, and price may potentially approach today’s California level. Yeah, you may argue, Florida is Hurricane prone. But don’t forget, California is earth-quake prone, does that stop people from migrating into California since 1970? No. Due to the lower price in Florida, combined with beach, great environment, improving job creation and urbanization, I am seeing Florida is replaying the slow and giant transition like what has happened in California some 30 years ago.