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How will housing change over the next decade?

NEW YORK – March 7, 2017 – Your 10-year outlook: Expect business to get busier, but be ready for some major demographic shifts in housing. Housing demand over the next decade will be significantly higher than today, predicts Lawrence Yun, chief economist of the National Association of Realtors® (NAR), in his latest column at Rising populations and a growth in the job market likely will release a pent-up demand in housing over the next 10 years, he says. The population is rising and more housing will be needed to meet demand, Yun says. About 325 million people currently live

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All-cash real estate deals on the decline in Miami

All-cash real estate deals are on the decline, and observers cite various reasons. “We’ve moved beyond being an REO market,” said Michael Pappas, president of The Keyes Co., referring to a market dominated by investors shopping for foreclosures and short sales. “We now have real buyers and real sellers. Three years ago, 35% of the single-family market was distressed, and now that number is in the single digits. We’ve filled that gap,” he said. Though most REO investors paid cash, real buyers usually need bank financing, which has become easier to get, he said. “Three years later, the regulations have

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Not So Fast

Trends might not be what they seem.   The numbers are growing. According to Freddie Mac and their recent report, 59% of those surveyed stated they were looking to rent their next home. Those figures are up 4% from the end of 2016.   As some experts expected, the biggest jump is among the Millennial generation who may have not ever owned a home. 73% of them said they planned on renting. That was a leap up from 64% back in September of last year. Another surprising percentage was among suburban dwellers, rising from 48% at the end of 2016

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Legislature OKs bill that oversees condo boards

TALLAHASSEE, Fla. – May 2, 2017 – Florida lawmakers passed a bill this week that imposes criminal penalties for some condo board violations. To become law, the bill, CS/CS/HB 1237, still needs Gov. Scott’s signature. If signed, it becomes effective on July 1, 2017. “This is very important for Miami-Dade because it’s something that condo owners have been waiting for for nearly a decade,” Sen. René García, a co-sponsor of the bill, told The Miami Herald. “But the reforms will help all Florida residents with similar problems. Sen. José Javier Rodríguez co-sponsored the bill in the Senate, and Rep. José

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Don’t Miss Out

A Slowdown In Miami Condo Sales?   Big names in the Miami condo marketplace are scrambling about and shouting to the hilltops declaring that the Miami condo industry is oversaturated with supply and seeing dwindling demand. They are basing their theory on some indicators, but mostly on historical trend data. They have frantically been moving into the rental space and hunkering down for what they see as an extended lag to this segment of the industry.   Is this doom and gloom justified? Could they be wrong?   Just like with any other type of investment and investor, those who

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