A realtor featured in the film named Ken DeLeon doesn't offer much hope. "As crazy as these prices might seem, I think you're going to see them double in the next six to 10 years. The amazing part — I don't think, it's going to end. I think the fundamental lack of supply and strong demand are going to drive this market forever."Back then, in Florida:
In Miami, Ron Shuffield, president of Esslinger-Wooten-Maxwell Realtors, predicted that a limited supply of land coupled with demand from baby boomers and foreigners would prolong the boom indefinitely.
"South Florida," he said, "is working off of a totally new economic model than any of us have ever experienced in the past."
Note the similarities:
- Limited supply of land. CHECK.
- Then "foreigners" now "Chinese". CHECK.
- Prolong the boom indefinitely. CHECK.
My prediction: BLOODBATH.
