http://abcnews.go.com/Nightline/Business/story?id=2882620&page=1
This article talks about the booming condo market of Miami, FL and how very recently has turned into a stalemate. 25,000 condos are being completed in just the next 18 months, but no new projects are being created because of the overabundance of condos already in Miami. The over supply and the factors of increasing Hurricane Insurance has tured the real estate market in Miami into a stalemate. This all makes perfectly sense, because of the boom in the condo market two years ago, everyone was building condos but because of that, an overabundance of them were built. That plus the increasing Hurricane insurance prices and other facotors makes the demand for these condos drop dramatically creating a stalemate.
