Budding skyline of Miami

Originally uploaded by julio.miyares

A sliver of the Downtown Miami, Florida skyline. Pay particular attention to the cranes. This skyline has risen like summer weeds. Last year when I was here, many of the building were just cleared sites. No doubt has taken on a boom/bust cycle where we are currently in the bust portion. Many of the units in these still un-finished buildings (predominantly condos) had folks putting down a deposit with no intention other then a quick profit by flipping it in anticipation of constantly increasing prices. Now that prices are on a downward slope, these “flippers” either ante up a full purchase price or walk away and lose whatever deposit they may have made.

Tomorrow I return to another boom town but without the Bust - New York City.

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