Marissa Espinada
Marissa Espinada
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4 years ago
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Has the market in Miami bottomed out?

There's a ton of half finished construction and for sale condos in Miami. Do you think the prices are going to drop even lower, or is now a good time to buy?
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Matt Sanding
Matt Sanding
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4 years ago
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You wouldn't think they could go any lower, but something has to happen. It's almost like the situation in detroit where the housing is free, but you still have to maintain it, so the value is actually negative.

If you need a place to live, I'd say go ahead and snap something up. If it's your 6th investment property, I'd start diversifying a little.

First tiem homebuyer credit is expiring. Fed will stop acquirign mortgages. Prices could drop to the point where these buildings can't function as condo communities and need to be rezoned for public storage or something!
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vitor xavier
vitor xavier
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4 years ago
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well, 6 months are now past...what is the situation today? i could buy cash a $150k condo and rent for a year or so, but...

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