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GOODKIN FEATURED ON ABC NEWS "20/20" PROGRAM Analyst Comments on "Flippers" in Florida Condo Markets
Speculative buyers are dominating Florida’s condominium markets in late 2005, according to Lewis M. Goodkin, president of Miami-based Goodkin Consulting,
“In most of the fastest-selling condominium developments in the state, investors and speculators account for more than 60 percent of total sales – and in Miami the figure is more than 75 percent,” said Goodkin in a recent interview on ABC News’ “20/20” program. “This is directly opposite of the state’s single-family home market, where users represent 80 percent of demand.”
Widely recognized as one of the nation’s leading consultants to the real estate industry, Goodkin was interviewed by Elizabeth Vargas in a news segment focused on the U.S. housing market.
“I am greatly concerned about the large numbers of ‘flippers’ who are reselling their condominium units during the contract stage or after closing on their units,” Goodkin said. “The fact that there are so few buyers who actually plan to use their condominiums indicates that there is a dramatic imbalance between supply and demand.”
During his three decades in the industry, Goodkin has directed more research on large-scale planned communities, golf resort communities, condominium communities and residential resorts than any other market analyst in the United States. Goodkin has lectured frequently on urban land economics, real estate investment, development and marketing, and is active in many real estate organizations.
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