Miami Housing Report - thebubblebuster.com

SUMMARY HISTORY PEAKS & TROUGHS FORECASTS

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The insane growth of the prior few years only slowed moderately and resulted in third largest real gain on record (only behind 2005 & 2004). These gains were propelled by continued job gains, investment activity and historically low mortgage rates. However, support is running out for current price levels as the market cannot sustain the poor affordability. Consequently, nominal and real prices should be expected to decline towards the historic level of mortgage debt servicing cost.

SEE PRIOR MIAMI PEAKS & TROUGHS Next >

Year	Nominal Price History	Nominal Price Growth	Real Price History	Real Price Growth	Miami Mortgage-Debt-to-Income Ratio	National Mortgage-Debt-to-Income Ratio
2001	$157,500	13.4%	$178,100	10.5%	20.1%	17.8%
2002	$180,000	14.2%	$198,400	11.4%	21.1%	17.5%
2003	$206,700	14.9%	$223,900	12.9%	23.5%	18.3%
2004	$249,000	20.5%	$263,200	17.6%	27.2%	19.6%
2005	$319,800	28.4%	$329,100	25.1%	35.6%	22.6%
2006	$366,800	14.7%	$366,800	11.4%	38.8%	21.7%

MIAMI, FLORIDA - Q4:2006