Search
 

More Pain Coming for South FL Markets

MIAMI-Experts say deals are still getting done, but the housing slump makes them more challenging.

By Crystal Proenza | Updated on September 17, 2008

(Crystal Proenza is associate editor of Real Estate Florida.)

MIAMI-The financial and residential real estate crisis will continue to affect South Florida commercial properties, according to speakers at today’s RealShare South Florida conference at the Hyatt Regency Downtown. Panels assembled at the event spoke to almost 300 attendees about the state of the tri-county market, getting deals done, the financial crisis, the benefits of going green and the outlook for the commercial market.

According to the speakers, the downturn in the South Florida market has not seen its darkest day in terms of residential prices dropping and effects on office, industrial and retail. Keynote speaker Mark Vitner, managing director and senior economist with Wachovia Corp., identified the roots of the financial crisis as complacency with asset quality and risk, plus a lack of accountability throughout the lending system.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.