Imagine a 100 unit building. Most management companies stagger the leases to minimize time empty and maintenance hours (empty units need to be made ready for new tenants if 10 units become vacant in the same week, it will likely mean more time unoccupied).
Now, in Miami-Dade, the most populous and the least diverse country in Florida, 80 units suddenly become unoccupied and unpaid for. This would be financially devastating for the company. They will do what it takes to get tenants in leases and yes prices will drop.
Many of the apartments in the area are all under a handful of corporate companies. Conservatively they could lose 40% occupancy in a few months. Compound this in that there would also be a similar loss in the number of potential occupants. They would also likely lose most of their maintenance staff.
South Florida (Palm Beach, Broward, Miami-Dade) has a very large migrant population. Among this population you have Haitians, Cubans, and Venezuelans who have protected statuses that will likely end. These statuses also mean that the government will know exactly where to go to start the process of removal.
This! You have any idea how much people pay for boulders to landscape their yards? A small one about the size of a nightstand can cost 300+.
Can we just put them all in submarines and promise it will be different this time?