Real Estate BisNow – Miami Multifamily: Next Crash Won't Be So Bad
Rents are rising, lenders are competing on condo deals, land’s trading at high prices, cranes are everywhere—the state of Miami multifamily is clearly robust. But for how long?
Our speakers at Bisnow’s Miami Multifamily Summit at the Hyatt Regency this week wrestled with this topic. The conclusion: it's tricky. Demand for both rental and for-sale properties is strong, fueled by Millennials and eager condo investors with cash. Also, any downturn this time is likely to be a slowdown rather than a crash, because of the more conservative way deals are structured. (People may still be wearing barrels, but only because it's become fashionable.)
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