Although the residential Miami, Florida housing market is showing signs of recovery, Miami commercial real estate is still in crisis. Over populated by empty storefronts, diminishing rent prices and difficult to obtain credit, a sizable number of South Florida Miami commercial real estate property owners face default on their bank loans. Many fear that this could trigger another round of bank failures and further obstruct the economic recovery of the region.
South Florida's banks have invested in Miami commercial real estate properties such as hotels, shopping centers and office space, over the years, According to analysis conducted for the Miami Herald, Florida financial institutions have twice as many commercial loans in their portfolios as out-of-state banks.
Full Article...Florida Housing Market, Miami Commercial Real Estate
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