Quote:
Originally Posted by Chelsea Spy
lots more cool shots -  a pity you didn't get more time on Miami Beach - it seemed to me that was the real 'soul' of the city - great vibe, beautiful people and wonderful deco architecture... all those condo towers in downtown... I'm just not sure... massive overdevelopment = massive property crash in the present gloomy climate... I know which bit of the city I'd rather live in...  |
as a former Miamian, I agree that Miami Beach is an interesting locale and has wonderful street activity. However, Miami proper definitely has "soul" and many areas with a great vibe, too... just not really downtown (but it is getting better).
As for the "massive overdevelopment = massive property crash in the present gloomy climate", that's pretty much what's been said about Manhattan many times over the course of residential building booms for the past century. Miami is, of course, not Manhattan, but it is a highly sought-after, international real estate market; and a region built on economic booms and busts over the past 100 years. The latest development of condo towers in Miami is not the first time this has happened there. The timing was right for this latest boom starting about 5-6 years ago or so, so they were built while the market was hot, with full knowledge that the massive growth phase was unsustainable and that many units would remain unoccupied for years. Those condos are not going anywhere. The bottom line is, there was available land on or very near the water in South Florida, and market conditions were perfect at the time to begin construction.