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Editor’s note: Miami’s luxe market loses steam
From the October issue: Well, 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.
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]