Well guys I am not saying this is a good investment or not but here in Miami the Condo builds are selling out before they are built and the buyers are buying all cash no loans. The developers can’t build them fast enough. They are paying high prices for land to build these condos. 99% are all from other countries. There is very little buyers from here and why would I buy all cash and a condo.
So what I think is happening is the Europeans, Russians, South Americans, Canadians are investing there cash here because they believe the collapse will be world wide and maybe the U. S. properties will hold some value compared to there countries property values.
Look at the Russians, I have a friend here which is Russian and he told me that he was glade he invested almost all his money in properties here in Miami since the Ruble went down more then 50%.