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Five investment strategies for 2005

By Rafael Gerena-Morales, Business Writer
Posted May 30 2005

It has been a choppy investment year: Oil prices remain historically high. U.S. inflation jitters have fueled interest rate increases. And there's a possibility that zooming real estate prices -- especially in some South Florida segments -- could slow, experts say.

What's an investor to do? Here are five strategies for 2005.

Be wary of Miami condos

A flood of investor money is pouring into what is becoming a huge Miami condo canyon.

In the first quarter ending in March, for example, nearly 19,770 condo units were under construction in Miami's greater downtown area, most of which are expected to be completed in 2007 or 2008, according to West Palm Beach-based Metrostudy. That's up roughly 74 percent from nearly 11,365 condos under construction in the same period last year.

On top of that, there are tentative plans to build another 35,000 condo units in the same area.

"If all of these planned units are built, there will be an oversupply," says Bradley F. Hunter, a Metrostudy housing industry analyst.

Real estate investors looking for quick profits should think twice about buying Miami condos at this stage, Hunter says, in case there is a condo glut in the next two or three years.

For now, investing in condos in Broward or Palm Beach counties seems safer because fewer are being built, Hunter said. Investing in a traditional, single-family home is even better because of fewer speculators in this slice of the market, Hunter says.

[Article goes on to discuss investment strategies unrelated to real estate]