How dirty is Miami real estate? Secret home deals dried up when feds started watching

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In Miami-Dade, the first-of-its-kind study found a 95 percent drop in how much cash shell companies and other corporate entities spent on homes. The decline began immediately after the [GTO] rule took effect in March 2016. Nicholas Nehamas and Rene Rodriguez, How Dirty Is Miami Real Estate? Secret Home Deals Dried Up When Feds Started Watching,

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Secret home deals dried up when feds started watching When a company called the Flower of Scotland paid $1.13 million – in cash – for a three-bedroom condo in Sunny Isles Beach last year, it had to do something.

Secret home deals dried up when feds started watching miamiherald.com A new study may measure just how dirty Miami real estate really is. Economists looked at a recent federal crackdown on cash home sales and found evidence of buyers trying to avoid detection.

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[Link] How dirty is Miami real estate? Secret home deals dried up when feds started watching by Nicholas Nehamas and Rene rodriguez (miami herald) After the federal government imposed a special disclosure review on Miami and Manhattan real estate markets in 2016, cash buys by shell companies collapsed to nothing.