Industry professionals agree that the positive outcome of Miami’s current residential market will in turn create optimistic beginnings in other areas. Office, hospitality, health care, high education and infrastructure will grow once residential building slows. CEO of Fortune International Edgardo DeFortuna says residential is starting to slow for the better from decreased wage growth. Akerman’s managing partner Neisen Kasdin agreed with DeFortuna. Although the price tags of these new condominiums will settle once complete and open, how much renters can afford to pay will be another factor in determining the speed of development.
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