Researchers Find South Florida Is Most Overvalued Rental Market In US
The study found the average rental price in the area that includes Miami and Fort Lauderdale is $2,832 but should be closer to $2,326.
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The study found the average rental price in the area that includes Miami and Fort Lauderdale is $2,832 but should be closer to $2,326.
New rules rolled out earlier this year by mortgage giants Fannie Mae and Freddie Mac are creating a bottleneck in the real estate market for those seeking to buy or sell condos or co-op apartments, according to agents and condo associations.
The Miami area saw a 28.1% year-over-year gain in home prices, while the Tampa metropolitan area had a 30.8% increase.
As if home prices weren't already out of reach, they continued to surge higher in January.
The U.S. real estate market was already tough for prospective buyers, who have faced double-digit price increases and cutthroat competition for listed properties. Now they are facing another challenge as rising mortgage rates add to the affordability squeeze.
According to Zillow, the number of listings dropped 42.4% from January 2020 to January 2022. Because of that, prices are soaring. Home values increased 19.9% from January 2021 to January 2022.
It's the ultimate in old world opulence, a four-acre compound in Coconut Grove owned by renowned business leader and philanthropist Adrienne Arsht. It's the highest priced home ever in Miami and proceeds of the sale are going to charity.
For many, the astronomical rent increases are impossible to keep up with. From December 2020 to December 2021, rent prices in Miami rose 49%.
What goes up, keeps going up. Rents continue to rise across the country and in South Florida and it's forcing tenants to make difficult choices.
Miami was one of three US cities to see the highest rise in home prices, 18.8% in 2021, according to the S&P CoreLogic Case-Shiller US National Home Price Index.
If you've forgotten what a "for sale" sign looks like, you're not alone. There are fewer and fewer around Miami
The cost of buying a home rose by double-digit percentages across most of the US in the last quarter of 2021, and a Florida city tops the list of biggest jump in home prices.
If you've been waiting to buy a house, but the prices have just been way too high, you may be in luck. The red-hot housing market might finally be starting to cool, just not in Miami yet.
From July through September, investors bought Tampa Bay homes at a record rate, according to data analyzed by Redfin that begins measuring in 2000.
After taking a break due to the pandemic, CBS4's Living Large with Lisa Petrillo is back as she takes you inside some of South Florida's most spectacular and lavish residences including the Regalia on Sunny Isles Beach.
Miami has become one of the hottest places to own a house, making it hard for some to stay, while others are priced out.
Finding rent in South Florida has been tough for many longtime residents and natives.
Home prices continue to surge in South Florida, and the trend has left many homebuyers in bidding wars or unable to find properties.
South Florida's real estate market is a sellers dream right now.
Though housing prices have soared in many parts of the country, and inventory is way down, real estate sales may still be stronger in 2021.
Once again, the real estate market is hot in South Florida and companies from near and far are finding that taking advantage of tax breaks makes perfect sense to open offices in the area.
South Florida is seeing a crush of new housing buyers. So much so, it has created a seller's market with many sellers getting top dollar. People from all over the Northeast in high-tax areas are making an effort to make South Florida their new home, but it's not easy.
The predictions are in for the hottest housing markets of 2021 and Miami makes the top ten list, according to a new Zillow survey.
While mortgage rates remain at record lows, home prices across South Florida and around the nation are rising in many areas.
The coronavirus impact in the US and Latin America has driven some condo developers to offer discounts as high as 20 percent on existing units.
As U.S. and Israeli strikes on Iran intensify regional tensions, a mother and six children shelter in Israel while their father remains stuck in South Florida after flight cancellations.
A trial has been set in the San Francisco Bay Area for a Florida woman accused of providing a cosmetic injection that killed a woman who was known as a Kim Kardashian lookalike, prosecutors said.
AAA says escalating military action involving Iran could drive a sharp spike in oil prices, potentially raising costs at the pump just as spring break travel pushes demand higher.
Airlines including JetBlue, Breeze and Allegiant are expanding service at Fort Lauderdale-Hollywood International Airport.
After Trump calls for change in Cuba, South Florida exiled leaders unveil a 3-phase democracy plan and alert the State Department.
As U.S. and Israeli strikes on Iran intensify regional tensions, a mother and six children shelter in Israel while their father remains stuck in South Florida after flight cancellations.
A trial has been set in the San Francisco Bay Area for a Florida woman accused of providing a cosmetic injection that killed a woman who was known as a Kim Kardashian lookalike, prosecutors said.
AAA says escalating military action involving Iran could drive a sharp spike in oil prices, potentially raising costs at the pump just as spring break travel pushes demand higher.
Airlines including JetBlue, Breeze and Allegiant are expanding service at Fort Lauderdale-Hollywood International Airport.
After Trump calls for change in Cuba, South Florida exiled leaders unveil a 3-phase democracy plan and alert the State Department.
In courtroom testimony, Shandelle Maycock recounted the harrowing night her daughter was abandoned in the Everglades, describing the horrors they endured.
A former prison guard trainee has been sentenced to death for the 2019 execution-style killings of five women inside a Florida bank.
Florida coach Billy Napier is getting a fourth season to try to get the Gators back to their winning ways.
A Florida man has filed a federal lawsuit against Jacksonville sheriff's officers who severely beat him last year after he ran from a traffic stop.
The Marion County Sheriff's deputy told authorities that he accidentally shot and killed his girlfriend while cleaning his gun.
The Supreme Court ruled last month at President Trump did not have the authority to issue his sweeping tariffs under a federal emergency powers law.
The Pentagon announced Monday that six American service members have been killed in Operation Epic Fury.
The first U.S. casualties of the war with Iran occurred among American personnel based in Kuwait.
The Supreme Court is set to convene Monday to hear a Second Amendment dispute over a federal law that bars unlawful drug users from having firearms.
President Trump posted on social media that Iranian Supreme Leader Ayatollah Ali Khamenei had been killed after a massive U.S. and Israeli military operation Saturday.
The measure was pushed by the Freedom Foundation, a right-wing think tank funded by billionaires, whose intention is to eliminate public sector unions.
Frank Mora noted that the Trump Administration does not want the total collapse of the Cuban government because it could prompt an exodus of refugees from the island to the United States.
Any change to the property tax system would have to be approved by voters in November, and it seemed unlikely the House plan was going to be approved by the Senate.
Alyssa Alhadeff and Alex Schachter were murdered eight years ago at Marjory Stoneman Douglas High School. Now, their parents are championing legislation to ensure that the tragedy never happens again.
As the partial government shutdown gets underway, Moskowitz argued that ICE should be reformed.
A trial has been set in the San Francisco Bay Area for a Florida woman accused of providing a cosmetic injection that killed a woman who was known as a Kim Kardashian lookalike, prosecutors said.
The Sunshine state is on track to be the second-highest, with only nine cases behind Utah, and the numbers lagging by five days.
Here's what to know about TrumpRx, including how it works, who can use it, and how much money it can save.
In a new study that could have significant implications for future Alzheimer's treatment, researchers at the University of Miami have successfully figured out how to combat one of the early signs of the neurodegenerative disease.
One patient reports getting stuck with a $2,418 "facility fee" after seeing her doctor. "I didn't even know such a thing existed," she said.
A lawsuit filed late last month took Chicago-based McDonald's to task over the McRib sandwich, calling its name a form of false advertising.
Florida insurance policyholders could be seeing some form of relief in their wallets thanks to market reforms made statewide, Gov. Ron DeSantis said.
The company said Tuesday that 85% of its retail products and "nearly all" of its school offerings are already made without "certified colors."
Less than two days after Delta Air Lines offered $30,000 to each passenger on board the flight that crashed and flipped in Toronto on Monday afternoon, the company is facing its first two lawsuits in the incident — and they likely won't be the last.
Activists are calling for a nationwide boycott of Target stores following the company's decision to roll back its diversity, equity and inclusion initiatives.
A trial has been set in the San Francisco Bay Area for a Florida woman accused of providing a cosmetic injection that killed a woman who was known as a Kim Kardashian lookalike, prosecutors said.
Hillary Knight, Megan Keller and Jack and Quinn Hughes made a surprise appearance during "Heated Rivalry" star Connor Storrie's opening monologue on "SNL."
Singer-songwriter Neil Sedaka, known for his hits like "Laughter in the Rain," "Breaking Up is Hard to Do" and "Calendar Girl," has died.
Bobby J. Brown's breakout role was as a police officer on HBO's "The Wire." He appeared in 12 episodes across four seasons.
Streaming giant Netflix declined to match Paramount Skydance's $31 per share offer for Warner Bros. Discovery.