While many analysts have offered commentary on the "rapidly-recovering" housing market in Florida and throughout the country, the reality is those figures are largely misleading.
New home sales, which serve as one indicator of the market health, have been steadily rising in recent months. However, this seemingly positive indicator is undercut by the fact that many of these sales are not going to traditional home buyers. In reality, these are all-cash buyers - hedge funds, foreign buyers, private equity investors.
Our Miami foreclosure defense lawyers know that most first-time home buyers have no shot at competing with these entities, which are snapping up properties by paying for them in full, in cash, upfront.