Miami, FL
Miami tops UBS’s global real estate bubble index
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If you’re thinking about buying a condo in Miami, you might want to hold off.
According to a new report from UBS, Miami has the highest bubble risk among all the cities it surveyed globally.
UBS (UBS) said that while the boom in Miami housing has “somewhat” cooled thanks to higher mortgage rates, prices in the city have risen by almost 50% since the end of 2019. Seven percent of that growth happened in the last four quarters.
“Price rises in recent years have strongly decoupled from income and rental growth, leading to significant imbalances in the residential property market and a high bubble risk,” UBS said.
The Miami market, according to the report, has been fueled by rich people competing with each other for a select amount of luxury oceanfront property.
Another factor contributing to the high bubble risk is new regulatory requirements for condos older than 30 years, which has led to a flood of those properties on the market. And when interest rates further drop, “lower mortgage rates will likely bring significantly more existing inventory to market and potentially lead to some price erosion,” UBS said.
Insurance costs are another factor creating high bubble risk, as plans continue to skyrocket due to climate change and environmental hazards, which UBS said “puts the future of Miami’s price levels into question.”
Other cities with a high bubble risk include Tokyo and Zurich, which rank second and third for the highest bubble risk. Los Angeles and Toronto took the fourth and fifth spots respectively and were classified as elevated risk.
Three people were hurt after a building caught fire on Lincoln Road on Sunday, according to authorities.
The Miami Beach Fire Department said it was working a fire near 230 Lincoln Road.
The flames had spread from a fire in a manhole that “ignited an FPL vault of an adjacent building,” officials said.
Three people were taken to Mount Sinai Medical Center with minor injuries.
The building was evacuated, and FPL has shut off power to the surrounding area, the fire department said.
Drivers were asked to avoid the area of Collins Avenue between 16th and 17th streets while crews worked the scene.
Miami, FL
“Love & Hip Hop: Atlanta” star Tommie Lee among 6 arrested during World Cup match in Miami, sheriff says
Reality television personality Tommie Lee — whose real name is Atasha Jefferson — best known for her appearances on “Love & Hip Hop: Atlanta,” was among six people arrested during the England vs. Norway FIFA World Cup match in Miami on Saturday, according to the Miami-Dade Sheriff’s Office.
The sheriff’s office said 60,024 fans attended the match. Deputies also reported 19 ejections from the stadium, adding that all incidents were isolated and handled quickly.
Authorities have not yet released the circumstances surrounding Jefferson’s arrest or any charges she may face.
A social media account that regularly reports celebrity news claimed Sunday that Jefferson was arrested July 11 and released July 12 after posting a $1,000 bond. The post also alleged she is facing a felony charge of interference with a sporting or entertainment event and said she later shared a video on Snapchat appearing to be in good spirits after her release.
What we don’t know
CBS News has not independently verified those claims, including the reported charge, bond amount or release information, and Miami-Dade Sheriff’s Office has not publicly confirmed those details.
CBS News has also not independently verified what led to the encounter, and the sheriff’s office has not said what prompted deputies to take Jefferson into custody.
CBS News has requested Jefferson’s arrest report, booking information and any charging documents from the Miami-Dade Sheriff’s Office. A request for comment has also been sent to Jefferson’s representatives.
Reality TV star’s legal troubles in South Florida amid World Cup festivities
Jefferson rose to national prominence as one of the breakout personalities on “Love & Hip Hop: Atlanta” before later appearing on several Zeus Network reality series, where she has remained a frequent cast member.
This is not Jefferson’s first legal issue in South Florida. In 2024, she was arrested in Miami Beach on a battery charge following an incident outside LIV Nightclub. Court records from that case alleged she physically confronted another person before officers took her into custody.
Saturday’s arrest comes as Miami continues hosting FIFA World Cup matches that have drawn tens of thousands of fans from around the world. Despite the arrests and ejections, the sheriff’s office said the event proceeded safely and described the incidents as isolated.
This is a developing story. CBS News will update this article as additional information, including the exact circumstances surrounding Jefferson’s arrest and any charges, becomes available.
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