The 2003-2007 boom for the housing is over. One of the causes of this fall are the overwhelming amount of rental units sold to conversion and now up for rent in a market where the rent is already slow.
The average percent vacancy at the end of 2008 was 6.5 percent.
By County, we see Palm Beach with 7.5%, Broward with 7.3% and Miami Dade with 5.7%. I believe that the lower percentage of Miami Dade is due to vacation rentals in Miami Beach and South Beach. Also there is to consider the seasonal condo rentals of the northern people who spend the winter in warmer clime.
No comments:
Post a Comment