Mish's Global Economic Trend Analysis: Flash and Fantasy; Miami Condo Boom is Back, Fueled by Foreign Buying: " . . . Prices are up nearly 25 percent from a year ago, according to the Miami Area Association of Realtors.
How did it happen? Foreign, all-cash buyers like Venezuelans, Russians, Chinese, Canadians, and Brazilians. They were either looking for a safe-haven to park their money or were taking advantage of a weak dollar. Whatever the reason, they came, they saw, they bought.
"It's mind boggling. I'm perplexed as to how all this can go forward this quickly," said Peter Zalewski of CondoVultures.
PMG's Maloney has sold 100 of the 190 units he plans to build in his "Echo" development and that is without even breaking ground. The rest he hopes to entice with flash and fantasy, which is exactly what Miami is all about. . . . "
Miami Beach Rock Ensemble “Doug Burris Tribute”
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The Miami Beach Senior High Rock Ensemble will be holding its annual 53rd
Winter Concert at the Miami Beach Bandshell on Friday, January 24th. Join
us in c...
1 day ago
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