Old people dying off? Hardly. The percent of the population over 55 and 65 is expected to grow very rapidly starting right about now, and won't even begin to slow until after 2020. The elderly population in the US is, believe it or not, at a trough. The peak is way out there on the horizon. Now, whether they choose to live in Fla is another question entirely. Somehow though, I have a tough time imagining another state in the East with the powerful draw of Florida: extremely mild winters, meaning year-round golf, tennis, fishing, all that stuff that retired folks with plenty of leisure love to do. Of course you do have to put up with the occasional alligator sunning itself out on the fairway. But that just counts as a powerful incentive to improve your game...
To say Pabst is biased on the topic is an understatement. But he does put up some good arguments. I don't know much on Miami condo market, nor do I care cause what I know is that they are overpriced crap. Few want to realize the fact that the beachline is receding, so those wonderful beachline condo buildings have a very short lifespan. Will the prices go up, down, sideways, I dunno. I just know that Florida has been through this phenomenon before and the results were horrific the first time around. It definitely won't be as bad the second time around, but still, as the saying goes, those who fail to learn from history, are doomed to repeat it.