Skip to main content

Why Miami’s global impact should grow — not wane — as foreign currencies decline

Javier F. Aviñó

During the height of the Great Recession, naysayers predicted that it would take about 20 years to absorb the glut of new construction in South Florida. For at least that long, they predicted, South Florida would wallow in economic misery, its nascent popularity as a premier global destination fading into oblivion.

But South Florida proved to be much more resilient than predicted. With several Latin American economies (namely Brazil’s) booming, and Chinese investors looking for investment alternatives to traditional U.S. markets, South Florida’s depressed real estate market was a foreign investor’s dream.

Now, once again, the naysayers are predicating the imminent demise of South Florida’s economy as a result of Chinese investors reeling from their home stock market’s recent crash and several Latin American economies flailing. In actuality, South Florida is in the midst of a perfect storm, which will further fuel its rise as a global epicenter.

Click here to read the full article published by the Miami Herald.

YOU MIGHT ALSO LIKE
New Miami Blog September 16, 2015
The 2016 political season has kicked into high gear, sparking lively discussions about major issues affecting the country. Two of the most significant issues being debated among the candidates are the economy and immigration. Typically, these topics are analyzed independently; however, the conversat...
Publication December 4, 2023
Bilzin Sumberg is on the front lines in identifying development and investment opportunities, securing entitlements and financing, negotiating and documenting workouts, counseling developers and investors in transactions, and navigating construction-related matters.
Client Alert November 20, 2023
SB 264 (Chapter No. 2023-33, Laws of Florida)—which restricts some individuals and entities associated with China, Russia, Iran, North Korea, Cuba, Venezuela, and Syria from owning certain real property in Florida—has been in effect since July 1, 2023. This is despite the current lack of...
VIEW MORE