Hedge Funds Snap up Miami Real Estate

Discussion in 'Wall St. News' started by marketsurfer, Jul 26, 2013.

  1. http://lnkd.in/7nv6nV

    Miami vise as big investors put a lock on hottest U.S. housing market

    Foreclosures surge as investors look to scoop up bargains ahead of full-out boom
  2. Maverick74


    Here's the problem with Miami. Everyone is buying but is anyone living there. Miami is like our Dubai. Property gets bought up by investors but the units are vacant. I don't think it's sustainable. Almost everyone I knew who moved there left there. Prices are upticking because they got so damn cheap. I'm not seeing the boom though.
  3. It just shows how much liquidity is sloshing around trying to find a place to park.

    We had ZIRP for a few months under Greenspan and that got the 2007 bubble really going... we've been at ZIRP for 5 years now... that's not going to end well IMO
  4. ElCubano


    Im seeing cranes as far as the eye can see...$2billion city center
  5. zdreg


    Canadians bought up the place 70% offthe high when you figure in the $C appreciation.

    did you check out the place in the middle of summer instead of the middle winter? your conclusion may be a classic example of statistical error.
  6. Maverick74


    I lived in FL for three years. Southeast FL is hideous. People want to own there for the homestead and bankruptcy protection. Also rich north easters like to live there 6 months and one day to claim state residency over say NY. Saves them about 12% in state income taxes. But most people I know who lived there abhorred the place. A mix of retirees who sit at green lights for 3 minutes before realizing it's green, drug runners from latin america, gang shootings and of course, the elusive conman on the run from wherever he is running from. From an economic perspective, there is no real industry there outside tourism to drive real sustainable job growth. It's really lacking any kind authentic community if you are not Cuban. I went to college down there and it was night and day the behavior of kids who grew up in Miami, Ft. Lauderdale, Boca, West Palm vs say Orlando, Tampa, Jacksonville, etc. It's just really hard to want to live around that. The vibe just isn't there. So sure, prices got really really cheap and they are rebounding nicely. But for those lifting offers at today's prices, I would be careful. I think an investor would do better on the gulf side if they are looking for more long term stability.
  7. ElCubano


    drug runners are in every state in the US. What year did you go to school here 1980?
  8. Maverick74


    Come on capadre, you know as well as I do that the border states are the problems. Yes, all border states. But FL has a mix that most other border states don't have which is lots of money, lots of criminals, lots of con men and government that is completely indifferent. That along with being an entry into the US is the perfect mix. And I went to school down there from 1996 to 1999.
  9. Im moving down permanently in October to our ocean front condo--- going to give it a try for 9 months or so to see if its where we want to live---- may end up being there in the winter and north in the summer.... i have family in a really nice gated intercoastal front community in Miami, so I have spent time there but never full time. thanks for the perspective. surf
  10. ElCubano


    you are going to love it surf. You have great beaches, water sports, fishing, restaurants, the keys, nightlife, The basket ball champs, nice parks Oleta..and living on the intercoastal is an added bonus. Mav's experience is but from one person who lived here all of 3 years. Doesn't he live in the murder capital of the world...although travel + leisure voted Chicago 3 or 4th best city in the US...in their latest issue...you just cant compare...if you don't like the water then he may have a point.
    #10     Jul 27, 2013