Could a major crash be coming to the Miami, Florida Housing Market?

Home prices are 27% overvalued compared to their long-term norms. Implying big home price downside if buyers or investors buy into Miami real estate today.

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However, prices in Miami-Fort Lauderdale-West Palm are remaining high due to a shortage of inventory. While the number of homes for sale has bounced back, there's still a shortage compared to pre-pandemic norms.
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