Miami’s allure sends house prices soaring

Surging rent: Construction workers build a residential tower in Miami. Median rent in November in the city was US$2,800 (RM11,734), up a whopping 44% from the same month of 2020. — AFP

MIAMI: Miami resident Maria Ruby learned last month that her rent will shoot up 65% in February. She cannot afford it and does not know where to go.

Her plight illustrates an unexpected effect of the coronavirus pandemic: Miami is seeing some of the highest housing cost increases anywhere in the United States.