Originally Posted by denveraztec
Great photos! Curious if is true that many developers overestimated the real estate market in downtown Miami and are over building? Hopefully that is not the case but Forbes is saying that real estate investors are loosing big on all of the new buildings? Whatever the case, Miami is looking good and I know I will continue to visit!
Most of, if not all, of the buildings were presold. I don't think the developers care one way or the other after that. I think the investor angle is overplayed. Some are surely losing money, but it doesn't seem to have affected the market as some had speculated. I think the second home market for South Americans plays and Europeans is an overlooked factor. Don't underestimate the locals though. We're out of land down here and home prices are already through the roof. Living downtown, once unthinkable, is becoming fashionable now.