Miami Housing Is Heating Up
I feel like I have been seeing this in South Florida just in general and it’s because homes are affordable and rates are low. It seems there is a lot of cash and investors out there too. I am not a real estate agent nor do I track the housing trends as close as an agent would but what I do know is that I like a headline like this for the areas that I originate loans in because a lot of it has to do with the media and consumer confidence. I guess we will see.
“Prices are still rock bottom, down by more than 56 percent from the peak. The median price of a Miami condo now just $95,000, but the good news is that prices are holding steady. Is it all the tax credit? Probably not, since investors don’t qualify.”