Miami Condos for Sale, Miami Real Estate

Tough Rules Are Keeping Buyers From Miami Condos

Just as lower prices are drawing more buyers to the troubled Miami real estate market, federal rules are making it even harder for them to get loans.

One Miami resident can't buy the $94,000 condo he had his eye on at Treetops Lofts on Miami's Upper Eastside, but he does qualify for a smaller, higher-priced loft at a building called The Bank on nearby Biscayne Boulevard.

The reason: complex federal rules that make it extremely tough for buyers to qualify for loans in many Miami real estate, unless they come up with large down payments.

Just as demand seems to be on the upswing, these rules could undermine any recovery in the depressed Miami condo market and drive unit prices even lower.

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