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Miami has claimed the dubious title of having the highest real estate bubble risk in the world, according to a new report.
Union Bank of Switzerland (UBS) released its Global Real Estate Bubble Index, which ranked the Florida city as number one among 20 major cities worldwide.
The bubble index in real estate refers to a measure used to assess whether housing prices in a specific market are overvalued.
A housing bubble occurs when property prices rise far beyond their underlying value, often driven by investor speculation and frenzied buyer demand — only to crash when the bubble bursts.
Over the past 15 years, Miami’s inflation-adjusted home prices have climbed faster than any other city in the study. Yet the market is beginning to cool.
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Miami has always experienced real estate booms and busts.
When Mamdani gets elected Mayor of New York, more people will be moving down here.