Why you should NOT buy real estate in 2022 | Miami | Buy vs Renting | Potential Market Collapse

Interest rates have skyrocketed, prices are out of control, inventory shortages, would it be better

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  1. I see a lot homes not selling and just sitting. Pinecrest, Palmetto Bay, Cutler Bay, Homestead, Westchester, Kendall. Getting tough to sell anything listed >= $1M

  2. This video is great and realistic. I believe certain areas with less DEMAND are going to have to collapse. If you cant sell the property you need to drop the price. HOWEVER on the other hand, we need to look at Puerto Rico which was basically Gentrified due to tax breaks and location. Houses that were once affordable to the people are now only open to wealthy Americans. My question is how much of Miami will be gentrified after these influx of buyers in a Seller’s Market? I believe that places that hold a large demand will maintain prices through the recession. There’s alot of people not making money and there’s people making money. The people that do will buy in those hot areas but the the people who can’t will either have to leave once the rent goes up or simply not buy there.

  3. Steven, thank you so much for the video! What about giving a deposit down for a pre-construction project that will be ready in 18 months? Is that a good idea? The property is 1.1 million for a 2588 sq ft house in a great area with good schools. We already own a property and we are not paying rent. Looking at it as an investment property. Appreciate your answer )

  4. GDP negative last quarter. We're already in a recessionary environment and interest rates are going to be at least 7% by end of the year. Rents already starting to drop. Entire housing in Brickell is a bubble and starting to burst.

  5. Great advice . Obviously there are pros and cons and it's going to boil down on what the person wants or needs at rhe current time . Just do your homework and see what is the best decision for you. Reading different articles on miami real estate and it's still just insane. People flipping properties for 50 % over what they paid in just months. Incredible, keep getting that money. Many blessings

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