Troubles in South Beach

[ricco67]

According to this article; there seems to be a shake out in the south beach area with condo development.

My theory is that Because it's been labeled as a tourist mecca and a place for the wealthy to play, this might make them more vulnerable to the whims in that particular market.

Houston has resisted the "Tourist" label and I don't believe Houston will fall Prey to such whims of speculators such as this. Because Houston is a city in which commerce is important as well as several other major industries.

[Pumapayam]

According to this article; there seems to be a shake out in the south beach area with condo development.

My theory is that Because it's been labeled as a tourist mecca and a place for the wealthy to play, this might make them more vulnerable to the whims in that particular market.

Houston has resisted the "Tourist" label and I don't believe Houston will fall Prey to such whims of speculators such as this. Because Houston is a city in which commerce is important as well as several other major industries.

Agreed, we have a pretty decent balance of energy, business, industrial, tourism, and medical.

You can't beat that.

[Howard]

According to this article; there seems to be a shake out in the south beach area with condo development.

My theory is that Because it's been labeled as a tourist mecca and a place for the wealthy to play, this might make them more vulnerable to the whims in that particular market.

Houston has resisted the "Tourist" label and I don't believe Houston will fall Prey to such whims of speculators such as this. Because Houston is a city in which commerce is important as well as several other major industries.

Condos are the first thing to fall off when the market turns. Florida and especially Miami have been way over priced for a few years. This wont happen in Houston because its not a major attraction like Miami. Houston will have its own turn based on people moving in or just not buying.