Always in Irony
I found myself in many ironic situations during the trip considering how my last couple of years have gone since leaving the island. First, the real estate market has clearly picked up and very similar to what we see in the United States, new housing inventory is very limited after the Financial Crisis stopped the overbuilding that had occurred on the island. The banking situation also suffered which led to a construction market that was depressed for over a decade.
I still recall the moment I appraised my home before moving to decide whether to sell or not and I was almost 60% below my purchase price! However, now I went by properties that are now walking distance from my previous properties that are developing projects almost into the 7 figures! This has been driven by the amount of capital being taken to the island from wealthy investors seeking tax benefits which have led to great projects in the infrastructure of the island.
Many of those investors even include OG crypto investors that have now made the island their home! This was another irony as I start my crypto journey while in Puerto Rico and felt like an alien out of place with little to find in terms of community. Now there is a vibrant crypto community with many places accepting payments in crypto as well! The local government has embraced it for the most part which has been interesting considering their prior stances regarding innovative technology.
While I am saddened that these trends were not around when I was on the island, I am happy the benefits seen locally. It could be only the start for the island and its great people to fully live up to their potential as a more collaborative society that accepts change for the benefit of all. It may not be enough for me to go back immediately but at least it leaves another option on the table for me as I get older and decide where to spend my days of enjoying my “retirement.” I know I will look forward continuing to see it from wherever I am!
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