Comments on: Resident influx feeds rising condo towers The Newspaper for the Future of Miami Wed, 25 Nov 2015 17:17:24 +0000 hourly 1 By: castellanas Wed, 12 Feb 2014 04:25:47 +0000 None of the Real Estate market. There is, however, will
benefit from the large number of visitors, tourists real estate
and residents. Fair market value is most commonly determined by an independent appraisal.
Keep a chart tracking your progress or watch the stash of money grow in your ‘vacation fund’

By: Francisco A. Contreras Fri, 22 Nov 2013 23:21:51 +0000 Miami…from Magic City to Feudal City

Today i read this article and it proved what i have seen and felt for quite some time…Miami has become a feudal city!

Greedy real estate developers target cash-rich investors (i.e., vulture firms, New Yorkers, South Americans, Europeans and now even the Chinese!) and leave local, middle-class residents behind to hunt and compete for ever increasing rental units (“the Rental Games”). No one in South Florida is going to do anything about the current situation; not the City of Miami (especially Marc Sarnoff), nor Dade County, nor the State of Florida, nor the local real estate industry (and why should they, they’re making too much money to care). This is a great and fabulous place to party (as the upcoming winter/tourist season demonstrates every year), but it has become a terrible place to “get ahead”.

I’ve lived here almost all my life and am a Government employee, but lately i’ve been considering leaving South Florida for a better life in TX, CO or UT. There are still places in the U.S. where you can work and have a decent life…Miami’s just not one of them.

But like Mr. Lewis said, “Our market is at the mercy of the rest of the world”…and the Federal Reserve Bank.