Hugo Chavez: Hero To Realtors In South Florida

For Years Venezuelans have been fleeing the wealth confiscation of Hugo Chavez and they have been bringing their money to South Florida.  Indeed, in Miami Dade and Broward Counties, Venezuelans are the number one foreign buyers of real estate and when they buy, they buy nearly 70% of the time with cold, hard cash.  Anyone living living in South Florida can attest to that with anecdotal evidence, but the numbers bear out these facts also.  Left wing tyranny has been good to South Florida real estate.


With the death of Hugo Chavez, the real estate market here in Florida will need to wait and see what the verdict will be: more wealth flight from Venezuela and a continuation of real estate purchases in Florida or the end of the liquid cash flow from the oppressed business class of Venezuela.