You may have heard that Fidel Castro, the long-reigning leader of Cuba, has resigned due to health issues. Why is this subject found in a blog about Real Estate?
I personally believe this action will have a great impact on not only the real estate market in this area of the nation, but the overall economic status everywhere. We are fortunate in Florida to have a large Hispanic population bringing with it fantastic foods, diverse cultural morays and a distinct ethnic flair. Many of the Florida Hispanics are of Cuban descent and have harrowing tales of fleeing the communist-lead country by raft, by feigning mental illness or worse.
Many of these refugees have left behind family members who were not able to escape. They have been waiting patiently for bi-directional access to their loved ones for years. I believe the US will step up its efforts to incorporate Cuba into Democracy and Free Trade, which will be a boon for those wishing to come to the US legally, or those wishing to visit friends and family back in Cuba.
Remember, Cuba is closer to the US than Puerto Rico is. It only makes sense that the US sees Castro's resignation as a golden opportunity to open those doors once again. But, I'm no politician.
I foresee an influx of would-be citizens, a staggering increase in the rental and re-sale market, open trade creating a spike in our economy and yet another vacation destination.
What do you think?
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