Miami's Condo Developers Adapt to Oversupply
Greg Allen, NPR
Some of the nearly three-dozen construction cranes in downtown Miami.
Miami's market for condominiums has been a frenzy of buying and building. Within the next two years, more than 25,000 condo units will be coming on the market in Miami. Like most of the country, Miami is in a real-estate slump. So far, prices and sales have remained steady. But observers say sale prices may drop by the end of the year, and investors will start losing money.
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