Miami real estate market heading for a record breaking surge

[Nicholas Wallwork]

Strong demand and a limited supply is boosting prices of homes in Miami which is continuing to lead a revival in the US residential property market. The median sales price for single family homes in Miami Dade County rose 4% to $185,000 in the second quarter of 2012 compared to the second quarter of 2011, [...]

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[Drew Drew]

Mr Shiller, of Case-Shiller index fame that predicted the housing bubble, is on record stating that they're worried about housing bubbles forming again in certain cities.

Miami qualifies as there are now 56 hi-rise condo buildings under construction.

It will be interesting to see how this plays out...