At the height of the construction boom in Miami, (Latin Builders Association former president Willy Bermello called the housing bubble "built not of latex but stainless steel") more than 3/4 of new condo and housing construction was being purchased by speculators. How did they do it? The Sarasota Herald Tribune examines the same phenomenon in housing markets that imploded on the west coast in an excellent series: read it here.
2 comments:
Great series. Too bad it was not done 4 years ago when every Joe on the street knew there was a problem.
Good comment. The mainstream press-- when the history of this economic crash is written-- will definitely be held to account for failing to inform readers because it was so scared of biting the hand that fed them.
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