Miami Office Managing Partner Neisen Kasdin was quoted in a Miami Herald story titled, "Report: Downtown Condo Market to Cool Down," which examined the growth of Miami's urban core since the economic downturn and the changing face of the city's residential market. Based on a new report by the Miami Downtown Development Authority (DDA), the article explains that Miami is entering into a healthy and extended housing cycle, with increased buying opportunities for a wider range of investors and end-users. Kasdin, who also serves as vice chair of the DDA, expressed extreme confidence about the next real estate cycle based on early economic indicators.
"As opposed to the last cycle, there's very little leverage in the market," Kasdin told The Miami Herald. "Most of the purchases are being made in cash. There's not going to be a crash, that's for sure. There's going to be, at best, a softening."