Business

Miami's Construction Cranes Vanish From Skyline

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The Florida real estate blog Condo Vultures says downtown Miami's last residential construction crane has disappeared. At the height of Miami's building boom, up to 40 cranes hovered over residential construction projects. They built dozens of buildings with thousands of condos. But now real estate prices have fallen. The last of the cranes that put up those buildings have been disassembled. They've been hauled off on flatbed trucks — migrating like giant birds to wherever business is better.

RENEE MONTAGNE, host:

The construction cranes may still be working in Charlotte, but it's a different story in Miami. That city's economy gives us today's last word in business. It's flight of the condos.

STEVE INSKEEP, host:

Flight of the condos. The Florida real estate blog "Condo Vulture" says downtown Miami's last residential construction crane has disappeared. At the height of Miami's building boom, up to 40 cranes hovered over residential construction projects, and they built dozens of buildings.

MONTAGNE: With thousands of condos.

INSKEEP: Which nobody wants now that real estate prices have fallen.

MONTAGNE: The last of the cranes that put up those buildings have been disassembled. They've been hauled off on flatbed trucks, migrating like giant birds to wherever business is better. That's the business news on Morning Edition from NPR News. I'm Renee Montagne.

INSKEEP: And I'm Steve Inskeep.

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