Peebles: Now Is The Time To Buy Real Estate In Miami; Prices May Not Go Lower

This is a good time to be buying real estate in Miami, developer Don Peebles said in an interview published in Mansion Global this week.

Prices in Miami may not go any lower, Peebles said.

Another reason for buying: the situation created by recent changes in federal tax law is still going to play out, according to Peebles.

President Trump signed legislation in 2017 making it much more advantageous to live in Florida by increasing federal taxes in states where there is an income tax. Trump himself is relocating his main residence from New York to Florida

Miami has some of the best multi-family residences in the world, Peebles added. Developers in Miami have taken it “to another level” due to intense competition in such a short time, he explained.

Peebles said that Miami also benefits from being a business-friendly environment with great weather and no state income taxes.

 

 

 

55 Comments
most voted
newest oldest
Inline Feedbacks
View all comments
Anonymous
1 year ago

“Now’s a Bad Time to Buy” said no developer ever.

Anonymous
1 year ago

His logic only applies to a domestic market. Our dollar is too strong and hurting real estate in global cities like Miami. Miami plays on an international level, and his general statement is developer propaganda.

Anonymous
1 year ago

“Our dollar is too strong and hurting real estate in global cities like Miami”

Are saying that Trump is really not the USA’s savior?

Anonymous
1 year ago

Fed Reserve has more influence on the dollar through monetary policy than the President. The fed reserve is independent of the White House by statute. Unfortunately, the system is set that a strong economy also influences the dollar. Are you saying you rather a leader with a slower GDP and a weaker dollar – you are worth less holding your US dollars? You have the right to hate the President, but hating his economic success is ridiculous. You must be drinking moonshine.

Anonymous
1 year ago

Trump is successful at economics?

Hmmmm… Trump can save the economy of a nation but he can’t save a casino?.. okay.. the koolade does taste good, doesn’t it?

Anonymous
1 year ago

Your hate for him makes you delusional to reality of economy.
The DOW is up 58% since he took office and 28% this year.
You must not have a 401k or and IRA.
Unemployment is at record low.
I guess you just want your student loans forgiven.

Anonymous
1 year ago

I see, the Tweeting Con Man in the Oval Office really got you fooled.

Trump is riding on the economic prosperity that Obama and Democrats put this economy and country in.

I’ll never forget during the presidential debates when Trump said “the economy is in terrible shape.. but my businesses are doing fantastic!”

I said “yep, that’s a con-man.”

I bet you think they’re just picking on Trump and that’s why they’re holding this Impeachment investigation.

Anonymous
1 year ago

Ha!.. Micheal Cohen said Trump is “a racist, a liar, and a Con Man.”

Anonymous
1 year ago

He is.

Anonymous
1 year ago

The DOW is up…Massa, we rich!!

omar ghaffar
1 year ago

The domestic market will drive our growth – that’s the whole point. Who cares about the international market? It mattered 5 years ago when Latin economies were doing okay. Thankfully we can rely more on domestic buyers now, which is good for improving the local culture. You want to have buyers that live in the condos, not passive investors who don’t set foot here.

Anonymous
1 year ago

What makes you think domestic buyers will live here full time? Ever hear of snowbirds?

Azarius
1 year ago

Everyone Move to Miami

Anonymous
1 year ago

The products are good somewhat…but they are overpriced because of the developer huge profits and high broker’s commissions. When you buy on pre construction or from a brand new building you are basically financing the developer and you as buyer assume all these costs mentioned before.
So it is definitely a bad investment…If you You don’t believe me, just pick any building in Miami built after the market crashed in 2008, and look at the resales…all buyers sold at a big lost.
I just took a look at the Paraiso Bay building in Edgewater, and ALL yes ALL resales just sold (about 22) were losses of about 20 to 30 % of what the buyer paid. Shame on Developers and brokers who deceive buyers. They should all be penalized for this practice. Realtors are “partners in crime” making 6 and 10% commissions which are included on the purchase price. Authorities should regulate this dirty business.

Anonymous
1 year ago

? Propaganda. Isn’t this the same developer that lost the land at Block 45 in Overtown?

Anonymous
1 year ago

“President Trump signed legislation in 2017 making it much more advantageous to live in Florida by increasing federal taxes in states where there is an income tax”

Dang.. there goes the accusations the republicans make about the Democrats raising taxes are what’s running northerners to Florida.

Anonymous
1 year ago

was it legislation or executive order — if was the latter – or a creative interpretation of law – maybe will change with next non republican president?

Anonymous
1 year ago

Legislation. The “Reduce Taxes on Corporations Act” of 2017. I may have the name wrong.

Anonymous
1 year ago

so he’s calling the top ?

Anonymous
1 year ago

It’s easy !!! First.. get a million dollars.. then you can buy a micro unit or rent with a roommate. 🙂

Anonymous
1 year ago

Melo and Related, truly world class!

Anonymous
1 year ago

They build cheap and sell expensive. Smart way of doing business.

Anonymous
1 year ago

lol, loving that mention of global crisis coming… developers and realtors trained to be happy as dogs all the time…

Anonymous
1 year ago

all those new units should be finishing up just in time for the next one, wash rinse and repeat

Anonymous
1 year ago

is he offering a money back guarantee? then i am listening…

Anonymous
1 year ago

No, don’t buy now. I don’t want that commission check. No more money for me!

Jesus
1 year ago

Now we need the government to build a city, county, and state that’s great for human capital, infrastructure, and quality of life. For human capital, more education and make trade schools, college, and universities tuition free to increase wages down the road and make Miami and Florida attractive to hire. For infrastructure, metro rail needs to be expanded, metromover as well, and cycling lanes everywhere! For quality of life, more parks like the underline, traffic reduced, and better planning for the city and county.

Anonymous
1 year ago

How does one go about making education free?

Jesus
1 year ago

Expanding pell grants, or follow up on California’s master plan from the 1960s.

Anonymous
1 year ago

…and who was Governor of California in the 1960s? Ronald Reagan, of course. Fast forward today, and the education system is a joke, with top students from top schools mostly being foreigners, while the wasted talent of native students is chipped away by professors attacking people with bike locks.

Anonymous
1 year ago

First you start with the Metromover, then Trolleys, then…..,

Anonymous
1 year ago

Amen! The Lord has spoken, but we are not worthy of Thy blessings, we only humbly ask of Thee to bring us a Superbowl Title for the Dolphins and five National Championships for the ‘Canes!!!

Anonymous
1 year ago

Keep on waiting and dreaming. The dolphins Suck with a capital “S”. You keep on rooting for them every year like losers only to be disappointed yet again by their sub-par performances game after game… seriously bud, time to turn the page…

Anonymous
1 year ago

Why is this great post getting all thumbs down? I see why Miami does not grow consistently!

Anonymous
1 year ago

I need the government to buy me that new mid-engine Corvette that’s coming out. That way I can outrun Metrosnail and run over cyclists on the way to my p/t barista job and Bernie rallies.

Anonymous
1 year ago

Ha!.. you’ll be very very lucky if you don’t get seriously injured or killed first by one of those maniac drivers in the city first.

Anonymous
1 year ago

The dollars is less in value than the Euro! so not so true!

Anonymous
1 year ago

Every Florida real estate professional knows that Miami real estate and the US dollar are correlated due to the influence of wealthy South American investors. Moreover, Miami real estate is correlated to EB-5 which makes the dollar even more crucial given the threshold is in US dollar. Go look at the real estate activity in Toronto from a low Canadian dollar. The Euro was artificial designed higher than the US dollar at creation. The fact that it is higher than the US dollar is irrelevant. I wish this blog was left for true professionals. You bring the average blogger IQ down.

NYC Loves Miami
1 year ago

Thanks for posting this. Didn’t know that about the Euro.

Anonymous
1 year ago

What people don’t realize that as warming progresses and seas rise banks will not provide 30-year mortgages. Therefore homes and commercial buildings in areas prone to flooding will be awash…Not only because they are ‘underwater’, which may not be the case…But that the roads, sewers and any underground infrastructure are underwater and consequently the property has no economic value. Insurance companies renew annually…bankers holding long-term paper don’t have that luxury.

Anonymous
1 year ago

Banks turn around and sell the mortgages after they make them….what do they care? Sometimes they’re not even concerned the mortgages can be repaid, hence the ’08 crisis.

Anonymous
1 year ago

Some ares in the Florida Keys already face this…

Old Timer
1 year ago

In the 70s, we were told that the world would not exist because of overpopulation and not enough food by 2000.
In the 80s, we were told that we will all die of acid rain.
Perhaps, banks are loaning, devopers building, and people buying is because the threat global warming is not as significant as you think and is being used as a pawn for political reasons.

Anonymous
1 year ago

Um, who said that because the planet is warming, the earth will end in the next five years?

Anonymous
1 year ago

Lol great weather? Non-stop heat and humidity? No mention of sea level rise or storms. Miami will be gone in 50 years.

Anonymous
1 year ago

You’ve obviously never lived anywhere else

Anonymous
1 year ago

I’ve lived in Washington, New York, Atlanta, Orlando, and Dubai.

Anonymous
1 year ago

Then move…

Anonymous
1 year ago

Great weather?
I don’t think being the most humid city and highest dew points in the country qualify as great weather. Yes, we have nice weather 4 months out of the year and that’s that and even during those months, we don’t escape the humidity.

Anonymous
1 year ago

Get out

Anonymous
1 year ago

Nevada here I come

NYC Loves Miami
1 year ago

As I type this, it’s 22 degrees with a real feel temp of 3. PLEASE… OH PRETTY PLEASE give me some hot humidity.

Anonymous
1 year ago

Would you like some big lizards and huge cockroaches with that request to?

Anonymous
1 year ago

*too

Anonymous
1 year ago

Sheeessshhhh… I hate wasting my time doing this but….

You’ll often use “to” when you want to indicate a relationship between words, relationship like possession, attachment, and addition.

I wonder if you’re the same person who tired to correct a word I used in another comment?