Editor’s note: Miami’s luxe market loses steam

Stuart Elliott
The Real Deal's editor-in-chief Stuart Elliott

From the October issueWell, it was bound to happen.

After using verbs like “soaring” and “booming” and “skyrocketing” to describe Miami’s luxury residential market for the past five years, momentum may be slowing.

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Fueled by a buildup of inventory and a strengthening U.S. dollar, which has driven away some foreign buyers, cracks in the armor are starting to appear. [More]