There's also the fact that we are threatened by hurricanes and any super-talls are going to be insurance liabilities in the event of a hurricane smashing Florida. Winds can be intense at ground level in a storm and they can be much more intense the higher (in altitude) you go.
The water table has little to do with subways. Note that in many cities the subway tunnels lie on the floors of bodies of water. Really it has to do more with the public support of mass transit (which is growing in Florida). I'd love to see a subway in Miami Beach, but residents there would oppose it because they don't want "trash" (their word not mine) coming into their neighborhood. As for supertalls and hurricanes, the buildings are engineered to sustain hurricane force winds. I remember seeing a condo on the coast of central florida that had all of its windows stripped off (on both sides) blowing everything out of the building, but the building still stood. So you see the most important factor here is the window, which has nothing to do with building height. After Wilma I think a lot of developers are going to be very careful with the windows.
The reason nothing has been built taller than the four seasons can be summed up with three letters: F A A. Florida is cursed by the fact that is has "new" cities which thus had lots of empty land when air travel became popular in the 1950's so they built airports near their downtown areas thinking it would be a big convience. Of course later on the FAA came along and decided tall buildings should not go near airports thus these cities are now screwed.
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