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Old 05-13-2017, 06:23 AM
 
12,017 posts, read 14,323,903 times
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Quote:
Originally Posted by mcharas View Post
Already home prices are dropping and condos are sitting empty in Miami... Housing Bubble Blog is a good resource for this type of info.
Yup just in the news

Miami ?pre-construction? condo flippers drown in glut - Business Insider
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Old 05-13-2017, 08:53 AM
 
Location: New England
3,848 posts, read 7,963,110 times
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it doesn't look like its slowing down at all. I see new communities going up everywhere and home prices keep going up. Along with rent.
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Old 05-13-2017, 03:51 PM
 
18,172 posts, read 16,398,084 times
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Quote:
Originally Posted by chopchop0 View Post
Condo's are never a real good investment and when over building occurs ..... Now housing seems to be doing just fine.
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Old 05-14-2017, 05:52 AM
 
Location: Port Charlotte
3,930 posts, read 6,444,863 times
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Market in Miami very different from SWFL. Miami has been dependent in terms of condo sales on foreign buyers while SWFL is more a combination of snowbirds and owner-occupants. Miami has historically been a over-build/bust city for condos.

SWFL is one of the fastest growing areas in the US. Other areas are stagnant. Each market is different. There was an article in a national publication saying that 'luxury' home sales were down (3% which isn't anything more than a normal swing). However they were quoting world-wide statistics. $1M in San Francisco area is a starter home, in SWFL is a luxury waterfront home.

So when people start quoting cherry-picked statistics to say 'the sky is falling' look behind the numbers.
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Old 05-14-2017, 05:57 AM
 
12,017 posts, read 14,323,903 times
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Quote:
Originally Posted by Restrain View Post
Market in Miami very different from SWFL. Miami has been dependent in terms of condo sales on foreign buyers while SWFL is more a combination of snowbirds and owner-occupants. Miami has historically been a over-build/bust city for condos.

SWFL is one of the fastest growing areas in the US. Other areas are stagnant. Each market is different. There was an article in a national publication saying that 'luxury' home sales were down (3% which isn't anything more than a normal swing). However they were quoting world-wide statistics. $1M in San Francisco area is a starter home, in SWFL is a luxury waterfront home.

So when people start quoting cherry-picked statistics to say 'the sky is falling' look behind the numbers.
1m won't you get what it used to in swfl or further down the east coast of fl for waterfront, unless you are talking a canal or something
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Old 05-14-2017, 07:29 AM
 
Location: West Palm Beach
216 posts, read 327,907 times
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Quote:
Originally Posted by chopchop0 View Post
1m won't you get what it used to in swfl or further down the east coast of fl for waterfront, unless you are talking a canal or something
True but what you get for $1M in San Francisco or Southern California is not much compared to SoFla. In some areas that only buys a starter home- probably a bit of a fixer upper at that.
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Old 05-14-2017, 09:36 AM
 
12,017 posts, read 14,323,903 times
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Quote:
Originally Posted by Elbig View Post
True but what you get for $1M in San Francisco or Southern California is not much compared to SoFla. In some areas that only buys a starter home- probably a bit of a fixer upper at that.
Agreed. When I went to Manhattan beach, I was shocked to see these ordinary 3/2 homes on a zero lot line postage stamp lot asking over a mil, not even a few blocks from the water. The "strand" was just absurd
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Old 05-14-2017, 11:19 AM
 
24,407 posts, read 26,956,157 times
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I just bought another $500k house in Dr Phillips. Well, I'm having the home inspection performed Wed, but I don't forsee any major problems with it. We still have room to go, at least in Orlando.
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Old 05-15-2017, 12:19 PM
 
Location: Orlando, FL
617 posts, read 832,856 times
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Quote:
Originally Posted by bmw335xi View Post
I just bought another $500k house in Dr Phillips. Well, I'm having the home inspection performed Wed, but I don't forsee any major problems with it. We still have room to go, at least in Orlando.
Not much though. Some listings I've seen where the seller bought in '06 or '07 are now selling for the same (or very close to) what they paid back in the crazy times of '06-07. This time next year, we'll exceed the '07 peak prices in Orlando.
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Old 05-15-2017, 12:42 PM
 
3,833 posts, read 3,342,083 times
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Quote:
Originally Posted by KPB View Post
I've been saying that for years, wish we'd get another '04-'05 season but w/ stronger storms.
I agree. Like a storm the size of Katrina or Rita, only hitting at peak intensity with winds of like 170mph. Imagine a storm the size of Katrina near peak intensity, cat5 taking a Donna like path!

If Florida were located another 100-200 miles south it would be more possible to get stronger storms in the tropics. Usually once hurricanes get into the more northern latitudes they're not as strong due to drier air from the continental US which is what happened to Katrina before landfall sucking in drier air from the mainland.
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