A Hospitable Banking Play

With warring pundits talking about the looming fiscal cliff -- on most cable news channels 24/7 -- it is difficult to maintain an optimistic bent. However, today, I would to focus on the continuing recovery in the domestic housing market -- especially here in Florida, where I reside.

I have been a skeptic on real estate here since I moved down to Miami from New York City in 2003. Commercial building activity kicked up again in 2004 and 2005 and there seemed to be a dozen cranes on every skyline. I have also seen the various starts and stops in construction activity since the market bottomed in 2008-09. For the first time in a decade, the activity seems sustainable. Rents are going up significantly, financing seems more available and confidence has returned. In addition, the demand from Latin America is substantial and I have seen new developments sell out in weeks -- again with most of the units bought sight unseen from buyers in South America....328 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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