According to Bloomberg Businessweek, Miami has the greatest share of residents who pay more than half of their income to rent in the nation. This is no surprise to active agents who have seen rents skyrocket in the last year with listings, many times rented the same day that they appear...often for higher than asking price.
History (and common sense) tells us that as rental markets climb into rediculous proportions, potential renters begin to think about buying. After all buying gives you the benefit of a tax break, the advantage of putting a chunk of your money into something more than a landlord's
pocket and the satisfaction of home ownership (aka painting or even knocking down a wall however, whenever you want to).
But where are the sale listings for this new generation of buyers?
Bueller?... Bueller?... Bueller? Anyone??
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