The steep fall in housing prices in the South Florida market is making owning more affordable than renting again. Buyers with very good credit and investors disappointed with returns on safe investments are snapping up available inventory at a remarkable pace. Multiple bids over asking price are back. Investors are finding they can buy properties at prices so low that they can rent them profitably while they wait for them to appreciate and harvest additional profits.
The desirability of markets like Fort Lauderdale and Wilton Manors make it even more attractive to investors. Despite the predictions of foreclosures and short sale inventory continuing to flow into the market over the next year or two, the eventual upturn is in sight and is predicted by most observers.
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