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elliemae
@
2010 Aug 4, 12:32pm
elliemae
@
2010 Aug 4, 12:32pm
I'm not convinced. a few sales here & there don't a gold rush make. I doubt that this guy single-handedly will bring Miami back from the brink.
there aren't enough jobs for real people.
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Lebron James just single handedly impacted two housing markets with his recent decision to leave Cleveland for Miami.
If you live in Miami and have a condo downtown, congrats your home has stopped a downward spiral and is now a hot piece of real estate. Were you thinking of walking away? Maybe selling and trying your luck with renting? Not anymore, Lebron has swooped in and saved the day. Your Lebron bubble has just formed, and depending on the number of years he is signed for, you know exactly when it will burst.
If you own in Cleveland's downtown area, your home/condo has now taken a massive hit in value. If I were you, I would be trying to sell ASAP.
Over the next 5 years there will be a direct correlation with the sudden burst in demand and high prices in downtown Miami properties with the arrival of Lebron James. The opposite will be true for Cleveland real estate.
Call it The Lebron Effect.
#housing