Recent News About The South Florida Real Estate Recovery
Apparently, the housing recovery in South Florida, something that I still don’t understand, is going to push prices up again this year. The increase in prices, they say, will only be in the single digits and not at the double digit pace we saw last year. Most of the realtors I know and talk to have been slow recently. Some, are getting down right nervous. I’ve been nervous since the “recovery” began. Hopefully, I think, cash buyers and Blackstone will continue to buy foreclosed homes to support the market (even though Blackstone doesn’t keep the homes after they acquire and fix them up – they sell them to REITS – unfortunately, that doesn’t give me any comfort or confidence – in fact, it kind of reminds me of a time, not to long ago, when the banks originated mortgages and then immediately sold them to investors to rid themselves of the risk – Yikes!).