Miami Real Estate Is About To Collapse…
I am not a local investor in Florida, I just want to get some perspective of how locals feel about this article I found on Adventures In Capitalism. It's a investment site by a hedge fund manager, and in this post he interviews one of his friends that's a hard money lender in Miami - who sees Miami real estate (especially high end condos) starting to crash quickly.
http://adventuresincapitalism.com/2019/09/25/miami-real-estate-collapse/
Most Popular Reply
I cant't speak to the Miami market, But here in the Tampa/St. Pete/Clearwater area, we don't see that being the case. Most recent numbers from August show an increase in median time to contract of 29% over last year from 28 to 36 days. Inventory is up slightly (about 9%). This doesn't mean that the trend will continue, and I do believe we are in for a correction. However it's going to remain to be seen just how hard and fast it will be. Personally, I don't see a "crash" like 2008, but the coming months could bring an excellent opportunity for investors.