This article, originally published by Al Zucaro on BocaWatch.org, is preserved for historical purposes by Massive Impressions Online Marketing in Boca Raton.
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Greed by itself can be a powerful motivator. The motivation to build can produce venues and spaces where we come together as community. Great things can be made by great people, things that last and are loved. But just because a campfire can keep a campsite warm that doesn’t mean the campsite is better off with every tent on fire. Greed, like fire, is useful and gets things cooking, but it’s got to be confined. Some residents feel like that fire to build has gotten out of control here in Boca, and everything is a little too hot for the moment.
Miami has a glut of luxury condos. It’s grown larger than the already large inventory mentioned by MarketWatch in 2017. Developers in Boca are gambling the same factors don’t reach us, only a short drive away. Will demand for residential remain high? Will home sale prices keep going up? It’s not just about sales; unoccupied units force the owners to lease for less. Homeowners who went through the home value rollercoaster of the last dozen years don’t want another ride like the last one. Miami may already feeling its hottest times cooling down – will Boca be next?
Editor – BocaWatch
[Cartoon by Jessica Gray]