Billionaire tech investor Peter Thiel says high housing prices in Miami are making it tough to relocate his companies here.
Thiel made his comments on the Honestly with Bari Weiss podcast (at the 19:30 mark). The podcast was recorded at Thiel’s home in Miami, Weiss said.
“I’ve thought some about moving our offices from California to Florida,” Thiel said.
“It’s a tough thing to do at this point, because the real estate prices in Florida have doubled, and the interest rates have doubled.”
“If you buy a house in Miami today versus just three years ago, you’re paying four times as much in a monthly mortgage payment.”
“That kind of economic cost is probably not enough to offset all the wokeness in the world, or even the taxes.”
“Its a really hard problem to solve. What do you do about these runaway rents, these runaway housing costs? That’s a super hard problem to solve. I have no idea how to solve that.”