Miami Condos
what is going to happen to all the condo buildings in miami?
what is going to happen to all the condo buildings in miami?
I heard there are 20 new buildings. and 37 being built.
it will take 4 years to fill these buildings.
What will happen to them all?
just sit vacant? waist away?
You have 1800, Brickel on the river, Marina Grande, Latitude and a score of others. Think 5 years at least. Lots and lots of those properties were purchased by foreign investors looking to make a hot profit. Some will walk away (Look at Latitude or Sole) for example. Expect to see prices decline a lot before they get any better whatsoever. Expect to see any equity that you might have wiped out. The only exception I see to this is Latitude since it is all build to suit offices and there are no nearby spaces on the river that offer anything better. There are better markets in the US, that are still thriving. Miami WILL come back, but not until there has been a huge, huge bloodbath.
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