Real estate in Miami continues to be fueled by investments from New Yorkers according to the NY Post,
Fed up with cold, dark days, deep-pocketed New Yorkers are buying second homes in sunny Miami. And despite reports of a market slowdown, there are still plenty of projects both ready for occupancy and still in development.
The residences currently available range in styles and tastes. From large-scale to small, riverside to oceanfront, Fort Lauderdale to South Beach, builders anticipate buyers of all demands and budgets.
While this is definitely good news for the Miami real estate market it will be interesting to see what happens this year as interest rates are expected to continue rising. Fortunately, data was released this week that showed mortgage rates declining as money has been pouring into treasuries due to concerns about the health of both China's and the world economy. Ritz-Carlton Sunny Isles - Miami
