The real estate market is continuously changing. A few years ago, it
seemed to slow down, and most of the main investors were immigrants that were
looking for a second vacation home. However, the market had seemed to turn
upside down, and since 2016 and 2017, local
residents and U.S. citizens are coming back for real estate investments.
The Miami real estate
market seems to be one of the favorite for the upcoming years. The weather, coziness, and investment
stability in this city is dragging investors every day. The most
interesting part is that those investors come from every generation.
Ten years since the
housing crisis, middle-aged people have
fixed their credit offer. This is offering them the opportunity to reinvest
their money back in the market. They seem to be buying second homes and
also investing in properties as a way to gain future profits (either by
reselling or renting). And due to the great deals in Coconut Grove and Coral
Gables, this seems to be an amazing opportunity for this generation.
Regarding the Baby Boomer generation, they’re downsizing or buying second homes. People
from this generation already own a property, and are settled in life. But real
estate is pretty attractive to them since it’s the safest way to use and keep
your money, while making a profit. However, most of them are just investing in
real estate to purchase a second home to spend their vacations. And there’s no destination
like Miami to do so. So, you can figure out that this is a great move for South
Florida’s real estate market.
Last, there’s the Millennial
generation. This is the youngest generation to have the economic opportunity to
invest in real estate. Since they are tired of paying rent, the Millennials have done some great work at
saving money, and now have enough to get into the market and buy a property of
their own. This is a generation mostly made up of single families and full-time
local residents, so this will help the Coral Gables and Coconut Grove housing
market, since the properties here meet the needs of these types of investors.
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