Quote:
Originally Posted by Fernandez
I think that the South Beach "image" of Juan Dolio should be dropped once and for all.
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... and it should be dropped fast! It's a only an artificial image and the theory lacks any backup in what so ever!
For some years now, this image only rises property prices due to ongoing speculations but the infrastructure does not justify any of it and the most important thing for investors is missing: the consumer, people wanting to buy apartments to actually live there!
Everything is empty - streets, businesses and buildings... but one investor keeps selling to the next... prices are skyhigh and still climbing.
My prediction is, that one of these days the whole airfilled bubble is going to burst - at the latest after the next hurricane is passing by near...
Just take all the small enterprises: every few months, trusting the rumors of growth in Juan Dolio, new businesses (Restaurants etc.) open and then close or change ownership after a short period of time because NOTHING actually is happening! Just some investors selling to one another but no real clients, new consumers with fresh money, seem to be attracted by the hundreds of empty apartments and houses.