The Real Deal Miami

Miami condo boom was big, not massive

June 20, 2008 10:33AM

Downtown saw more condos built or started in the last six years than the previous 40, a study shows. The 22,737 units counted up in a recent study is still a lower tally than many observers expected. Developers filed proposals with Miami government planners for more than 90,000 condo units during the peak of speculation in 2006. Now that the city has been hit hard by the subprime mortgage collapse and subsequent credit crunch, it is unclear how many of those will actually be added to the existing inventory.