Themes of the week: UBS “Bubble” Report • Rock The Market Highlights • Special Invitations. Thank you to the South Florida Business Journal for quoting me on this topic. The UBS "Bubble" report is a travesty and they should be embarrassed. This report a sensationalist misuse of a global platform, and its misleading headline is being echoed by press worldwide. * An invitation: Join me, I am speaking at the Real Deal Conference. 📍 Mana Wynwood | November 5 & 6 I am speaking on Nov 6 in a first-ever, special debate style panel with Daniel Kodsi. https://events.therealdeal.com/event/how-to-survive-the-squeeze * An invitation: Join me for my super fight at Main Character Jiu Jitsu 📍 La Scala De Miami Brickell | October 19 Tickets here, please select me at checkout: https://nitrotickets.com/event/1064/MCJJ-1HALLOWEEN-1HAVOC-1--11019
Ana Bozovic Refutes Newsweek, yet again
Legacy media has dug its own grave.
Completely false headline again, accompanied by a very poorly written story.
The arrogance with which legacy media lies and creates poorly written, politically motivated hit pieces is breath taking.
And this is my second time refuting a Newsweek article.
I had previously debunked a Newsweek article in July, 2024 >
Download my full Q3 2024 Miami Real Estate Report
“Miami Homes Suffer ‘Monumental Collapse’ in Demand”
You can read this Newsweek masterpiece here >
Really?
They cherry pick an anomalous month in Nov 2021, and say that inventory has spiked since then.
As I have been saying for years, you need to look at the whole cycle. SFH active listings are down 55% versus 2014 (10 years ago) and are down 21% vs. 2019 (pre Covid).
Meanwhile, over those same 10 years, population has grown. Florida surpassed 23M people for the first time & Miami’s pop is growing at almost 1% a year.
Now back to demand, and its alleged collapse:
The only segment of the SFH market that has a drop in sales (now vs. pre Covid) is the sub $500K segment.
Why?
Because active listings sub $500K have dropped almost 90% since 2019.
$500K – $999K SFH: record sales volume in Q3 2024
Every segment past $1M has 2x+ sales volume vs. 2019.
And looking at $2K / square foot:
sales volume is up 875% and it is 77% all cash.
So come on … this is getting tedious and ridiculous.
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