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May 10, 2017

Miami “Preconstruction” Condo Flippers Drown in Glut

Miami, particularly near the waterfront, has experienced one of the hottest post-housing-bust construction booms in the country, creating a veritable mecca for “preconstruction” condo flippers – often institutional investors – that are trying to make a buck. The construction boom is quite a sight to behold, still, as seen from a cruise ship, where crane counting might while away the time. This photo, taken by Matthew Brandley, shows the rising condo towers in the New Edgewater area:

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