Supply Chain Issues — Not Oversupply — Could Slow Miami’s Condo Boom
Land Use and Real Estate Partner Missy Turra spoke with The Real Deal regarding supply chain issues that could impact Miami's condo market. Supply chain shortages and rising construction costs have the potential to put a halt to Miami's current condo boom. Additionally, the price for undeveloped property or aging condominiums along the ocean are skyrocketing to an all time high. In some cases, developers are selling properties they planned to develop, because buyers are willing to pay so much.
"I don't think we've ever seen land trade at the pricing we're seeing in South Florida," Turra said. "Where does the spinner stop?"
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