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Ana Bozovic
Founder, Analytics Miami
In this conversation, Ahmad Ashrafi and Ana Bozovic delve into the intricacies of the Miami real estate market, exploring the impact of domestic migration, the importance of data-driven analysis, and the common pitfalls investors face. Ana shares her journey into analytics, her empirical approach to market trends, and the significance of understanding market dynamics.
Miami's surge is migration, not mania. The post-COVID boom started with domestic wealth and talent moving in, not foreign buyers; inventory is still roughly 30% below pre-COVID and million-dollar condos are 72% all-cash, the opposite of a debt-fueled bubble.
Rapid price growth alone doesn't define a bubble. Bubbles pop when assets can't sustain their debt; headlines calling Miami a bubble conflate appreciation with fragility for clicks.
Segment or be fooled. Old and new inventory behave like different markets, and the high end vanishes inside whole-market medians; sales past $2,000 per square foot are up over 800% versus 2019.
Align with scarcity and growth. Single-family homes near the urban core can't be added vertically, making them her clearest long-term play as the region keeps adding jobs and towers.
