Why Are The World's Top Real Estate Investors Risking Billio...
Inevitably it seems that rivers are one of two things to a city: either a vital, vibrant artery stitching it historically together (think the Seine through Paris, the Sumida through Tokyo, or the Chicago River through the downtown Windy City), or an industrial, black water pipeline which, decade after decade,...
Why Miami's Real Estate Scene Is Still Booming
The Magic City real estate scene remains as hot as the weather and the people it thrives on, proving this is still the place to be. The pool at Hyde Beach House in Hollywood fronts the Intracoastal. We’ve all seen the headlines: the Zika virus, looming hurricanes, falling real estate sales, declining...
Amancio Ortega buys Miami’s iconic Southeast Financial Cen...
Buying a whole block on Miami Beach’s Lincoln Road simply wasn’t enough for Spanish billionaire Amancio Ortega. The Zara owner has yet again smashed a Miami record with the $500 million purchase of downtown’s Southeast Financial Center, an iconic office building that seller JPMorgan Asset Management began shopping around earlier this...
South Florida home prices rise again in September as nation ...
The steady rise of South Florida’s home prices showed no signs of stopping in September, according to a new report, all while housing costs for the nation’s residential market reach a new high.
The S&P CoreLogic Case-Shiller released a report Tuesday that says the cost of South Florida’s housing stock rose 6.7 percent year-over-year in September, marking the sixth-largest jump in prices across the nation. The price index gathers its data from arms-length home sales in metropolitan areas throughout the United States.
Seattle took the lead with an 11 percent spike in housing costs, followed closely by Portland with 10.9 percent, Denver with 8.7 percent, Dallas with 8 percent and Tampa with 7.5 percent.
Though prices in South Florida’s residential market continue to swell — primarily thanks to a lack of distressed sales and quickening sales for mid-level homes — trouble could be brewing for the region’s luxury sector.
EWM International Realty CEO Ron Shuffield recently told The Real Deal that many luxury homeowners will have to drop their asking prices if they seriously want to sell, as the supply of properties listed above $1 million is piling up.
For the nation as a whole, September marked a new peak for prices in the U.S. housing market. The S&P report stated its national home price index swelled 5.5 percent year-over-year, bringing the metric to its highest point since July 2006 before the housing crash. — Sean Stewart-Muniz
WATCH: Top EB-5 experts discuss future of the program
From the New York website: As experts pondered the future of EB-5 during The Real Deal’s second annual U.S. Real Estate Showcase and Forum in Shanghai, the conversation naturally turned to President-elect Donald Trump. Will his tough stance on immigration affect the controversial visa program’s future?
Former New York Gov. George Pataki said the program would have a powerful friend in Trump.
“There’s a lot of misunderstanding on that,” Pataki told TRD managing web editor Hiten Samtani, who moderated the event’s “EB-5 and U.S. Immigration” panel. “Donald Trump won for a lot of reasons — one was his very strong stance against illegal immigration. and often, in the media and in the public, the distinction between legal and illegal immigration gets lost.”
To see more from TRD’s “EB-5 and U.S. Immigration panel, as well as clips from the event’s keynote speeches, click here.
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