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Michael Stein on Last Week's Poll

'I don't think it's indicative of the overall commercial market in South Florida.'

By Crystal Proenza | Updated on September 05, 2008

THE DOLLAR’S REBOUNDING

Last week’s national GlobeSt.com Quick Poll asked readers if the value of the dollar is in fact starting to rebound. A little more than half of respondents said there is a lot more pain ahead for American currency. Michael Stein, managing director for Aztec Group Inc. in Miami, spoke with GlobeSt.com about the way the changing value of the dollar effects commercial real estate in South Florida:

“I think it’s a temporary blip, and I don’t think it’s indicative of the overall commercial market in South Florida. The strengthening of the dollar is not indicative of a rebound in the commercial real estate market. We will see further declines in the market that are driven by the global capital markets and the lack of liquidity in the market.

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