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
1,000-Plus Mixed-Income Units Planned in Miami
A planned development made possible by a ground lease with the county could add over a thousands mixed income units to the housing market in Miami.
Report Digs Into the Unique Needs of the Miami Housing Market
Miami doesn’t get as much attention as cities like New York City and San Francisco for the cost of housing, but 61 percent of renters in the city are cost-burdened, and 71 percent of the city's residents are residents.
Miami Sues Banks Over Housing Collapse
Miami’s city government hopes to get some financial compensation from banks for the hardship the city endured during the foreclosure crisis.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Restaurant Patios Were a Pandemic Win — Why Were They so Hard to Keep?
Social distancing requirements and changes in travel patterns prompted cities to pilot new uses for street and sidewalk space. Then it got complicated.
Maui's Vacation Rental Debate Turns Ugly
Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.
In California Battle of Housing vs. Environment, Housing Just Won
A new state law significantly limits the power of CEQA, an environmental review law that served as a powerful tool for blocking new development.
Boulder Eliminates Parking Minimums Citywide
Officials estimate the cost of building a single underground parking space at up to $100,000.
Orange County, Florida Adopts Largest US “Sprawl Repair” Code
The ‘Orange Code’ seeks to rectify decades of sprawl-inducing, car-oriented development.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
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Learn the tools for implementing Universal Design in planning regulations.
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