Florida’s Miami market is the world’s top bubble risk, warns UBS — with one metric higher than the 2006 housing crisis

Miami’s coastal appeal must have something to do with it. Beyond that, its favorable tax environment is also still drawing high-net-worth newcomers from across the U.S. — particularly since Florida does not impose a state income tax.But one corner of Miami’s housing market is still booming: billionaire real estate.On top of that, insurance premiums are surging, driven by mounting environmental risks such as flooding and hurricanes. These combined costs are prompting more owners to sell, adding to the pressu ...