Housing price drops in cities like Miami have "vulture-like" buyers swooping in to snatch up properties.
"Home buyers from around the U.S. and abroad are descending on Florida to buy condominiums that have suffered sharp price drops amid the housing glut, subprime-mortgage crisis and credit crunch. Some are searching for investment properties, confident home prices will eventually rebound. Others are hunting for vacation or retirement homes. Yet pitfalls abound, and experts warn that prices could dip even further."
"In hard-hit Miami-Dade County, condos originally costing as much as $1.4 million at the peak of the market now sell in some cases for $840,000, a 40% drop. Farther north, a coming auction at Solaire at the Plaza, a new condo tower in downtown Orlando, has set a minimum selling price of $170,000 on 24 one-bedroom units once priced as high as $296,000."
"Florida is a microcosm of what's happening across the country. As the price of condos -- which tend to be popular among investors, retirees and second-home owners -- take a dive in many once-hot markets, buyers are emerging to grab properties on the cheap. They're finding plenty to choose from."
FULL STORY: Florida Bust Spawns Vulture Culture
Housing Comeback Reported in America's Hardest-Hit Cities
The long-awaited recovery of America's housing market, after six years of decline, seems to be gaining traction, with the latest data indicating increasing prices in hard-hit cities like Miami, Atlanta, and Detroit.
Miami’s Underline Linear Park Offers Recreation, Transportation, Conservation
A 10-mile park that runs under the Miami Metrorail is nearly complete and features bioswales for water conservation and public recreation facilities.
Miami Breaks Ground on All-Electric Transit Center
The terminal will have the capacity to power 100 electric buses.
What ‘The Brutalist’ Teaches Us About Modern Cities
How architecture and urban landscapes reflect the trauma and dysfunction of the post-war experience.
‘Complete Streets’ Webpage Deleted in Federal Purge
Basic resources and information on building bike lanes and sidewalks, formerly housed on the government’s Complete Streets website, are now gone.
Downtown Los Angeles on the Rise: A Promising 2025
Fueled by new developments, cultural investments, and a growing dining scene, downtown Los Angeles is poised for significant growth in 2025, despite challenges from recent wildfires and economic uncertainties.
Study: Single-Staircase Buildings Pose No Additional Risks
Zoning codes have long prohibited single-stair residential buildings due to safety concerns, but changing that could lower the cost of construction and allow for more flexible housing designs.
Forest Service Rescinds Tree Planting Grants
The $75 million program fell victim to the federal government’s purge of ‘DEI’-related projects.
Commentary: How Remote Work Supports Rural Communities
Allowing federal employees to work from home can deepen government agencies’ understanding of communities’ needs and create economic opportunities for local residents.
Urban Design for Planners 1: Software Tools
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Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Economic & Planning Systems, Inc.
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research