mirgehdos

Right now things have become sour. Just how many other speculators face the same dilemma in the nation's most glutted condo market will become clear during the next two years. That is when 25,000 new condo units, most of them Mirvish Gehry Condos in or near Miami's downtown, will flood an area already saturated with 23,000 condos listed for sale. An additional 40,000 units have been approved, but analysts doubt the majority will break ground. The numbers are stunning even for Miami's standards. It is an unusual take but we are seeing its surge but on the buyers market nothing is changing. Still standing around and being stagnant at one point.

Now that we are all aware of what Miami is facing, Orlando and other Florida cities Naples, Fort Myers, Tampa and Sarasota among them also have huge condo gluts. With 4,440 condos listed for sale, Orlando has an unprecedented 29-month supply, and last month sales plummeted 64 percent lower than a year ago. So that just means that most of Florida's major area is feeling the glut which is in many ways not good at all. Although it has been a collective effort there is still different take on things. Miami, with its unmatched volume and untold number of speculative buyers, is ripe for the hardest fall in the U.S.