Similar issues with high-cost housing trouble other large cities, including New York, San Francisco, and London.
#Lyrics cranes in the sky free
There’s plenty of housing – 6,000 new listings in January 2016 alone – but none of it is the right kind, and now the market is in a free fall. The cranes were replaced by big, empty buildings that are doing nothing to alleviate the high-rent issue plaguing the city.
Developers tried to attract wealthy foreign buyers via luxurious condo developments that ended up unsold. The catastrophe didn’t prevent another housing bubble from springing up in Miami.
They find entire neighborhoods of immaculate, abandoned McMansions, spooked renters with deadbeat landlords, predatory realtors, and boneheaded lenders that put the “bro” in “broker.” One gloats about targeting immigrants with bad loans. I remember thinking of it as an analogy for my transition - this idea of building up, up, up that was going on in our country at the time, all of this excessive building, and not really dealing with what was in front of us.”Īll of that is explained in great detail in the Adam McKay film The Big Short, where, in one scene, a pair of hedge fund managers investigates the impending crisis by stopping off in – where else? – Miami. They were so heavy and such an eyesore, and not what I identified with peace and refuge. I remember looking up and seeing all of these cranes in the sky. “I used to write and record a lot in Miami during that time, when there was a real estate boom in America.