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Analyzing Current Real Estate Conditions In The Miami-Dade Market
Miami is a unique US city that is probably one of most diverse in the nation. The city has a healthy mix of international residents, and is also a booming economic, cultural and social center. The city has established itself as one of the two largest commercial ports in the U S, mainly thriving on high-volume import and export businesses. In addition, Miami has become the second most important banking center in the East Coast, second only to New York. As it is often the case, along with seeing robust growth in the real estate market, comes a time when fortunes change, and a period of pessimism hovers, as a result of overly optimistic view of how many new housing units could the market absorb, because of the excessive number of either unsold or foreclosed residential properties, especially condos. The market has been for a rough ride lately, however, it’s not that hard as some would like everyone to view it. What Factors Would Help The Market Overcome The Slump In view of the existing slowdown in home sales, mortgage rates and interest rates. If we check some of the major variables influencing the real estate market at these specific times, ... more
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