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.

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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.

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]