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2015 Predictions

by Jason Porterfield

CONFIDENCE IN
THE ECONOMY

Has your confidence level in the local, state and world economy increased or decreased since last year, and why?

Liza Mendez: Our confidence level in the world, local, and state economy has increased due to the improving economy and to the expanding real estate markets. Miami’s position as a high ranking global city attracting business enterprise, trade, and buyers, including record numbers of high net worth individuals, from around the world point to a very exciting economic outlook.

Jill Eber: Jill and I are very focused on our luxury market here. It’s really a niche market. I think Miami has become core for foreign investment. I think because of the unknown nature of the Euro and also of the economic and political volatility we’re seeing around the world, overseas in Europe and with political and economic also in South America. In Miami – of course the United States, people look at as a very safe haven to plunk their dollars. It’s like a bank vault for them. They look at it as a secure place not only economically but I think for their families as well.

I think because pretty much due to the recovery act, the very wealthy recovered quickly. Seeing that they recovered so quickly and as more dollars flow, we’re seeing all those dollars flowing down to South Florida to Miami for investing in real estate. What better place? We have everything here. We have the weather, we have the international airport, we have the fine restaurants. Most importantly for the people from New York, New Jersey and California, there’s no state income tax. So if they’re able to make this their primary residence, it’s always fueled our luxury market, but so much more is going on.

Chris Leavitt: Increased, because Miami is becoming a world class city like London, like New York, like San Francisco, like Paris. It’s a place where everyone from all around the world wants to go, and not just for vacation or business or commerce. Miami is really evolving culturally. There’s museums, children’s museums, art museums. There are so many amazing things that are making Miami a place where you want to live year round, not just a place to party and vacation. Hedge funds are moving in at an all-time rate to open their business. People just want this way of life. The weather is so brutal in New York and in the northeast, more and more people are moving for the weather. It’s a virtual world, so I don’t have to live in New York. I can live in Miami and live in a place where I’m really happy and where it’s warm and sunny and fabulous.

How confident are you in the housing market for 2015?

Jill Eber: I feel very confident in the housing market for 2015. I don’t feel that there’s anything happening that would indicate that anything is going to happen other than we’re going to see continuing with a really good market.

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