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Old 11-14-2008, 05:44 PM
 
1,004 posts, read 2,705,114 times
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I saw a commecial on TV that was discussing real estate, and there was a back drop of the Miami skyline that looked like it was cluttered with scaffolding and cranes, building many new high rises. Can Miami handle that kind of increase in population easily? How is the traffic now? I also have heard that in spite of real estate value dropping Miami has become a very expensive city?
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Old 11-14-2008, 05:47 PM
 
Location: 1. Miami 2.Dallas 3. NEXT!
464 posts, read 1,361,029 times
Reputation: 135
Miami is overbuilt...and underbuilt all at once!
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Old 11-14-2008, 05:52 PM
 
Location: Hialeah, FL
483 posts, read 1,545,379 times
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I believe its been over built for quite some time now.
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Old 11-14-2008, 08:47 PM
 
670 posts, read 1,744,048 times
Reputation: 270
Default Is Miami becoming over built?

.
... Nah!

... You think?!!

-
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Old 11-15-2008, 05:59 AM
 
Location: fort lauderdale, fl
149 posts, read 562,745 times
Reputation: 95
If you go downtown, you'll see so many unfinished condos that nobody wants or can afford. The city has probably one of the worst downtown areas out of all the major cities in the United States. There are so many vacant condos and office buildings. I would be interested to see how much worse it will become once this credit crisis kicks in.
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Old 11-15-2008, 12:24 PM
 
Location: Jacksonville,Florida
3,770 posts, read 10,578,119 times
Reputation: 2003
Quote:
Originally Posted by DCkid View Post
If you go downtown, you'll see so many unfinished condos that nobody wants or can afford. The city has probably one of the worst downtown areas out of all the major cities in the United States. There are so many vacant condos and office buildings. I would be interested to see how much worse it will become once this credit crisis kicks in.
So what are the vacancy rates ? Yea ,the Brickell area is a mess ,I wouldn't want to live there it is an eyesore ,yea give me a break with your generalities,how about some facts?
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Old 11-15-2008, 01:16 PM
 
Location: Hialeah, FL
483 posts, read 1,545,379 times
Reputation: 117
Quote:
Originally Posted by DCkid View Post
If you go downtown, you'll see so many unfinished condos that nobody wants or can afford. The city has probably one of the worst downtown areas out of all the major cities in the United States. There are so many vacant condos and office buildings. I would be interested to see how much worse it will become once this credit crisis kicks in.
I have yet to see an unfinished condo anywhere in Miami. If you think Miami has a bad Downtown then you'll be surprised if you dare to step out and travel this country.
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Old 11-15-2008, 05:08 PM
 
Location: fort lauderdale, fl
149 posts, read 562,745 times
Reputation: 95
Office vacancy rate in Miami̢۪s business core could rise to 15% - South Florida Business Journal:

http://www.miamicondoinvestments.com...february-2008/

http://miabeachrealestate.wordpress....do-oversupply/

http://www.floridahomeloan.com/2007/...-economy.html/

http://sf.therealdeal.com/articles/downtown-miami-office-glut-looms (broken link)

http://online.wsj.com/article/SB1220...al_real_estate

http://www.housingpredictor.com/worstmarkets.html





That enough facts and visual evidence for everyone?

Last edited by DCkid; 11-15-2008 at 05:58 PM..
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Old 11-15-2008, 06:01 PM
 
Location: Jacksonville,Florida
3,770 posts, read 10,578,119 times
Reputation: 2003
The only office\condo that was started and not finished is the Logik project in the Central Business District,now if you were to state how many projects were planned but not built that is another story because there were plenty.
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Old 11-15-2008, 06:14 PM
 
Location: fort lauderdale, fl
149 posts, read 562,745 times
Reputation: 95
Quote:
Originally Posted by noland123 View Post
The only office\condo that was started and not finished is the Logik project in the Central Business District,now if you were to state how many projects were planned but not built that is another story because there were plenty.
Who said anything about office/condos that were started and not finished? I'm referring to the oversupply of condos. I think your misunderstood my statement. In Miami's financial district, there is 1.92 million square feet of office space under construction. With vacancy rates currently over 9 percent, that could spell trouble.
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