In Miami, There Are Too Many Condos and Not Enough Foreign Buyers

[Alvin]

A war zone? Are you referring to the never ending construction all over/around south beach?

yeah's she's definitely overreacting if she means low income high violent areas ( yeah there's the pork and beans, lil haiti, carol city, overtown, etc) but they aren't right by south beach.

 

[Biscayne]

https://www.thecoli.com/threads/low-key-miami-sucks-and-is-overrated.499124/

Were you down there recently?

 

[JLova]

They're overbuilding these luxury condos everywhere

These developers in Charlotte are tone-deaf also, especially Southend near uptown

They are building for investors. Not regular folk. This is happening everywhere.

 

[MF budz]

fukk em.

 

[TooLazyToMakeUp1]

They are building for investors. Not regular folk. This is happening everywhere.

Of course

 

[50CentStan]

Where the 200k condos selling for 100k in soflo? Let us regular cats plezeee

 

[Robbie3000]

goodie for they azz

It's happening everywhere a gluttony of overpriced so called high end Condos within a market with few buyers......

Atlanta...Charleston.....Panama City ....and all over are experincing the same thing

realtors just got greedy wanting to maximize profit margin by purchasing all this low priced property once the real estate marekt hit rock bottom and start upcharing these "suckers" for these high end "boxes"......and overated amenities

im fully aware of this "hustle" i was a former property manager of some high end condos...and i would see these "elitists" struggle to make lease payments on these units

one dude was subleasing his condo out to another guy.......which was a violation of our condo association agreement

tried to LIE and say the guy was his "lover"

the "lover" said NAH..IM JUST A "ROOMATE"

dude got "evicted" within a month

That story sounds like a scene from Threes Company with @KENNY DA COOKER playing Mr Farley.

 

[UberEatsDriver]

They're overbuilding these luxury condos everywhere

These developers in Charlotte are tone-deaf also, especially Southend near uptown

That’s the wave. Plus developers also know many of these high earning young people aren’t interested in buying a house.

I do deliveries in some of the new buildings in Brooklyn and these buildings feel like hotels.

All the tenants look like they are in the 25 - 37 age range.

 

[UberEatsDriver]

I need to start doing this during the Chicago winters. Imma go where this nicca talkin bout....Wynwood.

Wynwood is my favorite Miami neighborhood. But I also love art so that’s plays a part.

 

[UberEatsDriver]

Pretty sure this is playing out in every major city in the US.

The same shyt is occurring in the Los Angeles, where condos and apartments that go for 3.5-4k month minimum.


Now here's the real kicker, the reason why it's a long term investment is because by 2050, 70% of the world's population is projected to live in Big Cities.....

So if these people can afford to maintain the properties for another 20-30 years it'll be profitable as fukk by then.

68% of the world population projected to live in urban areas by 2050, says UN | UN DESA | United Nations Department of Economic and Social Affairs

Thank you for posting this. Been trying to tell this to folks on here who keep preaching “move to the country” when in reality most people including young black people are becoming more and more urban.

 

[HDiron]

yeah's she's definitely overreacting if she means low income high violent areas ( yeah there's the pork and beans, lil haiti, carol city, overtown, etc) but they aren't right by south beach.

For sure she is. If she means all those neighborhoods that you just mentioned when she says “warzone”, those are definitely not even close to being 1 block away from south beach. You literally have to cross over the bridge and leave the island that is Miami Beach to reach those hoods.

 

[SadimirPutin]

Thank you for posting this. Been trying to tell this to folks on here who keep preaching “move to the country” when in reality most people including young black people are becoming more and more urban.

Look this may all be true

But at some point the shyt is not sustainable...majority of the world's population gravitating to city centres with reducing spaces and escalating prices and income disparity is an economic bomb waiting to happen

 

[UberEatsDriver]

Look this may all be true

But at some point the shyt is not sustainable...majority of the world's population gravitating to city centres with reducing spaces and escalating prices and income disparity is an economic bomb waiting to happen

It’s true and technically we went through this already.

Look back at the time before tenement laws existed in NYC and you’ll see some of the most third world conditions.

If cooperations spread out more and infrastructure is improved maybe we can evenly locate to other cities.

 

[TELL ME YA CHEESIN FAM?]

If rich Americans ain't scooping up those fly ass condos... something ain't right

 

[loyola llothta]

local culture is dying and dying