Yglesias

Time to Buy Houses in Miami?

CREDIT:

Via Calculated Risk:

citiespricetorent-1

The Miami real estate situation got totally crazy for a while. But Miami’s not Detroit; no reason to expect the city to enter long-term economic decline. If price/rent ratios start dropping below their historical level, they’re good investments, especially in the supply-constrained “near the ocean” locations.

(By the same token, not time to buy houses in New York)

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