Has Miami’s Housing Market Hit Bottom?
Monday, June 23rd, 2008
I recently came across an interview with Jim Cramer (from Mad Money on CNBC), which I believe accurately predicts future real estate trends for the Southeast Florida housing market. For anyone considering buying Miami Beach, South Beach, or even downtown Miami waterfront properties, NOW is the time to be making offers on well priced properties.
Cramer’s Key Points:
- Inventory is drying up & being steadily being absorbed
- Housing starts have been down for over two years
- New construction projects stopped two years ago
- Florida is generally one year ahead of market trends
- Interest Rate cuts have had a positive effect in absorbing excess inventory (at much reduced prices)
Watch Jim Cramer’s Interview Below:
