Monday, July 10, 2006

Venezuela, Miami: Is Chavez Robo-lucion Fueling Miami's Real Estate Boom??

For now a teaser.
Ever wondered who keeps on buying over-priced Miami real estate -350,000 dollar and over condominiums bought by absentee investors??? Foreign investors, guess who is the single largest buyer? Venezuelans 1st in Miami/Ft. Lauderdale, 2nd in the State overall.
Is it simply capital flight by rich anti-Chavez types? There is some of that, but there is simply too much money flowing out of Venezuela and ending up here, despite restriction. Word on the street is that some of it is the samel wealthy types from before, through sweetheart deals with the Chavez government, and some of it is the Chavistas themselves - directly or through connected relatives or friends.

If you have any information on this please email me, I am working on an interesting story.