CNBC Reports on the Booming Miami Real Estate Market

For those who missed it, two segments aired on CNBC this afternoon in which Diana Olick reported on the booming real estate market in Miami.  She attributes the latest boom to cash buyers from South America, Europe, Russia and China.  The surge in demand has prompted developers to start building once again.  This time around, however, there is less fear in the marketplace than was present in the last boom.  Easy credit is no longer available and the majority of purchases for South Florida real estate are made with cash.