What if the year 2015 had been the pivotal moment for South Florida of this preconstruction boom?
As it enters the 5th year of the current real estate cycle, certain observations have taken hold in 2015 thus influencing the duration of that condo boom happening in between Palm Beach, Broward and Miami-Dade.
Because of the weakening of foreign currencies against the U.S. D. and a global slowdown of the economy, South Florida’s financial safety measures have eroded over 2015. These were aiming at reducing risk for preconstruction condo developers. Indeed, in an area where 50,000 new units have been built over the past 5 years, competition prompts various strategies to attract buyers: Read the rest of this entry »