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Miami Booms Like Never Before on Rental Demand: Mortgage

Miami’s roller coaster real estate market is booming again after its worst crash left dozens of unfinished buildings and failed condo projects.

Related Group of Florida, Adler Group and Area Property Partners LP, are among builders developing amid a shortage of rental properties as the economy improves. The average rent for a two-bedroom apartment increased 6 percent to $2,568 a month in the third quarter, compared with the year ago period, according to Condo Vultures LLC, a brokerage and consulting firm.