Trump’s Migrant Crackdown Adds to Miami’s Real Estate Woes

Miami, like much of the US, had already been seeing a real estate slowdown driven by higher mortgage rates and record prices. South Florida was also hard hit by soaring insurance costs and condo maintenance fees, as well as the inevitable comedown after the pandemic-induced relocation frenzy that made the area a magnet for new arrivals.

Now, convers... See more

Home sales are down more than 17% from a year earlier in Miami, nearly six times the national decline, according to March data from Redfin Corp. Properties now spend a median of almost 100 days on the market, more than twice the US rate and a sign of waning demand. In the rental market — which is more likely to cater to undocumented migrants and le... See more