The South Florida property market has displayed remarkable resilience. And amidst this, BisNow South Florida Deal Flow and Investment Strategies Summit was held to to host the major shareholders of the sector for a meeting. The event happened in downtown Miami in July 2021 and emphasized the benefits of new investment in the sector. CARROLL owner M Patrick Carroll was among the speakers and he discussed the emerging trends in the market.
The speakers at the event spoke of how South Florida has received increased investment in the real estate sector over the last year. They analyzed the market conditions and discussed the factors that have led to market confidence.
A number of them noted the entrance of new investors which has resulted in rapid growth. Some of the reasons fueling the growth were favorable business policies, low taxes, and a population boom in Florida.
CARROLL founder M Patrick Carroll is very experienced in the housing sector. His company is in charge of more than 30,000 family units across seven states. Having done some research on the emerging trends in the housing sector, he had some valid points.
Carroll stated that the economy had recovered from the recession in 2008 and people had returned to live in urban areas. People wanted to enjoy shopping, entertainment, and dining along with other amenities in the city. But he forecasts that the trend will be reversed in 2021 with more people moving back to the suburbs.
According to M Patrick Carroll, this will be driven by certain factors. One of them is the affordable housing options in the suburbs. Another factor is the work at home trend. The trend has particularly grown during the COVID epidemic.
M Patrick Carroll also warned that markets on an upward trend could also go downhill, adding that things do not go up forever. He also noted that rising interest rates could hamper the growth in the property market. By monitoring these market changes, property investors can assess the potential of a particular project.