Curb Zone - View Single Post - Global Urban Property Boom -- Is it out of control?

Michael · 03-17-2007, 08:15 PM

I agree with Luw, this is nothing new. Although some of the big cities like the one I live in, Miami, are having a housing crisis. The real estate as boomed so much because of the market, foreign investment, and the 'flippers' that many, if they had to, could not purchase a new home because of the rise in house prices. I remember when a house in Miami, a nice home, would go for about $200,000-$300,000. You could get 3 beds with 3 baths and a nice pool for that amount. That same house is not worth $700,000-$900,000 today days. Although many argue that real estate is the best investment, some are having a hard time, such as developers, getting sales high since now it has become a buyers market.

"they float on a cushion of international capital, largely immune to regional concerns, and are flush with cash." This is absolutely true. Thank you Rob.

03-17-2007, 08:15 PM	#3 (permalink)
Michael Super Moderator Join Date: Sep 2005 Location: Florida Posts: 3,248 Thanks: 247 Thanked 340 Times in 205 Posts	Re: Global Urban Property Boom -- Is it out of control? I agree with Luw, this is nothing new. Although some of the big cities like the one I live in, Miami, are having a housing crisis. The real estate as boomed so much because of the market, foreign investment, and the 'flippers' that many, if they had to, could not purchase a new home because of the rise in house prices. I remember when a house in Miami, a nice home, would go for about $200,000-$300,000. You could get 3 beds with 3 baths and a nice pool for that amount. That same house is not worth $700,000-$900,000 today days. Although many argue that real estate is the best investment, some are having a hard time, such as developers, getting sales high since now it has become a buyers market. "they float on a cushion of international capital, largely immune to regional concerns, and are flush with cash." This is absolutely true. Thank you Rob.