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Wednesday, September 18, 2013

South Florida economy growing at 3.5 percent, thanks to a real-estate surge

New output numbers released Tuesday show real estate as the No. 1 contributor to economic growth last year, accounting for 31 cents of every new dollar added to the tri-county area’s $274 billion economy. Overall, the economy grew by 3.5 percent, the sharpest increase since 2006 and well ahead of the national metropolitan average of 2.5 percent.


Real estate’s return as a major economic engine comes amid rising property values and a return of cranes in downtown Miami as developers again see profits in one of the most ravaged housing markets in the country.

“Real estate is really the foundation for this area. It’s crucial for the recovery,’’ said Tony Villamil, a private economist and dean of the business school at St. Thomas University.

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Read more here: http://www.miamiherald.com/2013/09/17/3633412/south-florida-economy-growing.html#storylink=cpy

Read more here: http://www.miamiherald.com/2013/09/17/3633412/south-florida-economy-growing.html#storylink=cpyReal estate’s return as a major economic engine comes amid rising property values and a return of cranes in downtown Miami as developers again see profits in one of the most ravaged housing markets in the country.
“Real estate is really the foundation for this area. It’s crucial for the recovery,’’ said Tony Villamil, a private economist and dean of the business school at St. Thomas University.

Read more here: http://www.miamiherald.com/2013/09/17/3633412/south-florida-economy-growing.html#storylink=cpy

1 comment:

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