Media
- Riskiest U.S. Housing Markets: Miami #1 [Forbes]
- Does Miami want to kill its 24 hour nightlife district? [Sun Post]
- Overdue Metro Mover overhaul about to begin [Miami Herald]
- S. FLA gets first green car dealership [Miami Herald]
- Briny Breezes Makeover won’t include the Related Group [SFBJ]
- Commuting not so stressful study finds [Palm Beach Post]
- Carnival Center told it needs higher profile programming [Miami Today]
Blog side
- Metromover Upgrades [Transit Miami]
- Celebrity restaurant invasion continues [SotP]
- Dade County English only Ordinance [Miami Beach 411]
- New Restaurants in the Gables [Coral Gables blog]
- Bocce, Beer, and Fish [ Still Life With Feet]
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excellent links – thanks!
I found the riskest US housing markets article to be pretty fluffy – leave it to forbes.
Risky for who? Lenders?
Forbes is obsessed with Miami. They had nothing positive to say during the boom. Now they’re ramming us left and right.
How does Forbes measure “vacancy” at 3.8% in Miami? Does that mean 3.8% of homes are for sale and/or unoccupied? It dont think its referring to vacancy in terms of the typical apartment vacancy measurements.
In the “crunching the numbers” portion they didn’t elaborate on their reference for the vacancy rates except to say that they were factored in. If I had to guess, I would assume, as you have, that they are referring to units that are listed but unoccupied. Outside of vacancy rates and the ARMs, the high cost of insurance, I think, was the tipping point for us. The carrying cost of homes here is much higher because of the high cost of insurance and that’s one thing that separates Florida from other markets. Still, as Matt said in the interview, if the hurricane season goes by without a problem, he wouldn’t be surprised by a strong recovery in Miami.