New Condo Bust Ahead for Miami?
Posted: April 12, 2016 | Source: www.irr.comDespite predictions for another condo bust in Miami, one expert says the current situation is much different than the 2006 South Florida real estate market. Unlike 2006, most of the condos now under construction have already been sold and banks have limited exposure with 80% of new condo sales in the last three years as cash deals. However, with many of South Florida’s feeder condo-buying countries such as Brazil, Canada and Venezuela facing continuing economic problems, some nervous developers have canceled projects.