Wednesday, March 7, 2012
The reason for Miami’s real estate boom
Several forces have helped Miami’s real estate market boom in recent years, from its size as the nation’s eighth-largest metropolitan area, to its role as hub of the South Florida economic region — at $430 billion in economic output, bigger than Norway. It’s also because of Miami’s draw for international buyers, this place is not just a resort destination, but a global economic spike.
Miami fills an intriguing niche in the global economy, which combines elements of a global economic and financial center and an international resort and second-home destination, with all the growth and unevenness that comes with it.