A Mini-Housing Boom For Miami, With Foreign Flavor - NPR

For the 12 months ending in March, sales to foreign buyers totaled $82 billion, up from $66 billion in 2010, according to the National Association of Realtors. And while international buyers are unlikely to turn the US housing market around, they are making a big difference in states such as Florida. Today, thanks to foreign buyers, home sales are so good in Miami that more houses and condos could sell this year than during the boom year of 2005. We also sold a home to a Russian there for about $4 million," Ruiz says, "If you want to name a nation, I can tell you they're here. The downside, he says, is that more homes sold to international buyers means fewer available to locals. Login / Register More information is required for you to participate in the NPR online community. We may edit them for clarity or brevity and identify authors by name and location. Louis area who started 2011 unemployed and searching for work. DysfunctionSkeptics doubt the debt downgrade will inspire lawmakers in Washington to find common ground. Realtors