Urban Fold

South Florida's High-Rises Enter Real Estate Nirvana

Home sales in the Miami metropolitan area surged 16% during the first six months of this year. Not only does the figure represent the highest jump since 2007, two-third of the transactions were paid in cash.

And to think, the region was considered the glaring symbol of excess rife with defaults and foreclosures at the height of the housing crisis in 2008.

David Streifeld reports, "Only a few years after it seemed there were so many unwanted high-rise condominiums that the only solution was to tear some of them down, there are plans to build even more."

"Many of the sales are to investors, rich people or foreign citizens benefiting from a weak dollar. [...] For the traditional buyer who wants to put down no more than 20 percent, loans are somewhere between tough and impossible," he adds.

Full Story: Affluent Buyers Reviving Market for Miami Homes

Comments

Build Your Own Paper Block City

Urban Fold is an all-inclusive kit that allows anyone to build the city of their dreams with a few simple folds.
$24.95
building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25
Wood necklace with city map

City Necklaces

These sweet pendants are engraved on a cedar charm with a mini map of selected cities. The perfect gift for friends and family or yourself!
$28.00

NEW! Get the "Green Bible"

Understand the complexities of planning at the local level while preparing for the AICP* exam. Find out why this edition is included in the APA's recommended reading list.
$105