Trouble for the Miami real estate scenario is not over.
In the fourth quarter Miami condo sales went down dramatically. The last downtown high-rise condominiums built for the housing boom are going to be very hard to sell.
Now it looks like that the downtown area will be at the center of the condominiums crash, since the restrictions on mortgages got tightened with recession.
Bulk sales seem the best solution for builders to get rid of excess inventory.
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