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CNBC Street Signs – Is Miami Forming a New Housing Bubble?

[1]
[click to play video]

Reporter Robert Frank spoke with me and pens a good piece on the Miami phenomenon [2] and provides an interview for Street Signs [2]. It’s worth a look.

No, not in the same way we saw one formed in the middle of the last decade.

In other words, Miami’s boom is not a broad-based market recovery driven by local families needing a home. It’s being fueled by a tiny top slice of super-rich overseas buyer looking for the latest hot investment.

They’re not buying their first home, or even their second or third. They’re investing in a stock with an ocean view.

25% of foreign investment of US real estate in Florida, most of it is in Miami.

“Most patient” capital

“Very discretionary”


Is the Miami Mansion Boom Becoming a Bubble? [CNBC [2]]
Is there a bubble in Miami? [CNBC Street Signs [1]]