It’s not like Miami hasn’t been through a horrendous condo glut before.
The Fed caused it, but it won’t do much to contain it.
“Many fear the Fed is behind the curve. The market is even further behind: This is clearly a dangerous situation.”
The Financial Sector threw $2 Billion at Congress during the Election. Biggest Spenders? Not the Banks.
So where will this go from here?
Answers are trickling in. Tough luck for New York, San Francisco, Miami…
America becomes “Landlord Land.”
To delay falling into a fiscal and financial sinkhole.
Why a real estate insider thinks era of “aspirational pricing” is over.
Commercial Property Bust to hit Multifamily Rentals in San Francisco & New York, the Most Expensive Markets in the World (reports).