It is not a secret that the down peak of the Miami Real Estate’s cycle is here. But even if it sounds like bad news, it is not at all!
Miami real estate has been following a sequence since the early industry boom in the 2000. This means that if we have arrived at the bottom line, it will have a fast bounce soon.
The whole industry has followed the same pattern, but the ultra-luxury houses’ had shown the most drastic impact.
Some immigrants, even those with a valid work permit, who were planning to buy a house, are sceptic nowadays. A few even withdrew their offers. For example in San Francisco, an Indian software engineer cancelled an offer for a house at $900,000. This is not the only case in the US, immigrants do not feel safe enough to make the biggest investment of their lifetime in a country where they might not be so welcome anymore. This fear could hurt to a certain extent the residential real estate market. Read the rest of this entry »
Miami Real Estate Blog 