Finally, the Miami Herald seems to have shaken the bad mood it's been in for the past several years, and has acknowledged the Miami real estate market is not as depressing as what the "forecasters" say. Related Group, the largest condo developer in the US, announced they've sold over $1 billion worth of units in the ICON Brickell, a three-storey megadevelopment just south of Downtown. Only 15% of the development is still available. While the dizzy days of sellouts within minutes, things are at a more moderate pace, of course; but that doesn't mean things are slow by any means.
People lament the tech boom-and-bust of the 90's, using it to fuel fears of the current real estate market. But it's important to note the tech market has regained its mojo in many ways, and is now much more realistically positioned for long-term growth.
Although if Related Group wants to blame the "slower" sales of their units at ICON, perhaps they should consider the building's entrance, which looks like a tribute to the creepy statues on Easter Island.
You have to admit, it's a little scary. Would you want to drive through this every day?
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