Here's just another bit of info to pile on to illustrate the obvious: Miami's Real Estate market is totally fucked. Excuse the profanity, but honestly is there any better way to describe? It is fucked. That's what it is.
Anyway, Business Insider compiled a not-so-cheery listicle, and determined that Miami will be the worst place to make real estate investments in over the next five years. Meaning we will continue to be fucked for the foreseeable future.
"If you bought a home in Miami in 2005, we're sorry: over the following six years it depreciated in value by more than 54.3%," writes Business Insider. "And the rebound -- if there is a rebound -- won't come soon."
Business Insider claims that house values will continue to fall, and annualized growth over the next five years in the market will be -0.7%. Sure that's a lot less than -54.3% over the previous five years, but that's still a negative sign in front of that figure.
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In fact, Miami is the only market on the list where predicted growth is still in the red.
Fort Lauderdale comes in at number four on the list with an estimated annualized growth of just 0.8%.