The Real Deal Miami

Lower expectations for 2009

January 22, 2009 11:44AM

Veteran Florida real estate economist Lewis Goodkin said property pros
in his state and other hard-hit markets should prepare for another year
of plunging property values, soaring foreclosure rates and weakening
home sales. Amid the collapse, though, there are a few bright spots. Consolidation and layoffs will remain a fixture in the
real estate business, but survivors should be in stronger positions for
the business that does come their way. Falling construction costs should
ease the way for developers to adapt to the current market by offering
more affordable apartments and condos, rather than aiming for the high