CNBC Reports on the Booming Miami Real Estate Market
March 15, 2012 by Lucas Lechuga
For Real Estate
Related Needs And Inquiries
please complete the form below
There goes Miami’s diversity.
On a serious note, the issue with the housing market is attributable to the banks not loaning money to purchase a home. The govt only wants the banks to buy treasuries so they can redistribute the wealth instead of re-building the country. The incumbent administration deserves to be fired. Pls vote for the other guy, regardless of party affiliation at every opportunity. Term limit of one.
Hey Lee what rock have you been living under. Banks don’t earn enough interst on ztreasuries to stay in business. As for home loans, I am sure you are aware of the excessive fraudulent mortgages that were a major reason behind this housing crisis.
Let’s forget politics and think rationally for one minute. Can you imagine getting a mortgage by making up any income you wanted. They were technically called ” No Doc Mortgages.” doc= documentation. Their popular name EAs liar loans.
Since Miami is the king of fraud, dirty money, drug money etc. it’s no surprise that the latest round of purchases is all cash. The article attributes it all to booming Latin American economies and Chavez. Yes that is some of it. But you know as well as anyone else that a large part of it is from sales of illegal guns and drugs.
Getting banks to loan to crooks and liars is not an Obsma issue and you know it.
Tom and lee99, please hurl few more idiotic comments at each other, before you realize just how much in common you both have.
I feel sorry for the poor slobs who listened to the housing critics when prices were historic lows. Those poor slobs were told it was cheaper to rent than to own as if those conditions would remain true forever. Now they are priced out of the market once again and will soon be relegated to moving back to the suburbs in search of cheaper rent. They are priced out of condo markets and soon will be priced out of the rental market. Well it looks like Miami is setting a platform for it’s next condo bubble cycle, this time with a bunch of central and south Americans buyers. I wonder how this further lack of diversity will affect the city as far as jobs and tourist are concerned. I love south Florida and the latin flavor but Geesh if it gets any more Latin I don’t know how much of it I can take.
[…] Whether it be rental or retail, the real estate market is buzzing and it has everyone moving again. During the residential condominium market boom, several buildings were converted from rental to condominium, thereby reducing the supply of rental units on the market. The long-established developers that were able to make it through the recent storm, coupled with international investors’ thirst for Miami, has created a mini-boom for new rental apartment buildings in the city. […]