Oversupply

Take a look at this screenshot from Zillow (which is totally awesome, by the way):

That’s the SoFi district of Miami Beach – the five blocks south of Fifth Street. And, more importantly, the 317 properties available for sale right now in the five-by-five-block area, including one building (the Cosmopolitan at 110 Washington, right in the middle of the map) with 21 for-sale listings out of 225 apartments in the complex.

Not that you wouldn’t want to live somewhere with scenery like this. But would you want to buy there?

Miami’s less serious side, previously on JRE.

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