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Old 10-08-2007, 01:46 PM
 
Location: somewhere in the south
403 posts, read 1,434,483 times
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Do you guys think Florida's growth will return the boom we experienced back from 2000-2005? what about school enrollment, do you think it'll stay stable, decline, or eventually boom again? I think all the growth will stay stable for several years and then eventually start booming again.
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Old 10-08-2007, 02:13 PM
 
Location: Fort Myers Fl
2,305 posts, read 2,697,027 times
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I hope it booms again. I have some swamp land I want to sell.
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Old 10-08-2007, 02:37 PM
 
3,842 posts, read 9,430,621 times
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Quote:
Originally Posted by kwflconch View Post
Do you guys think Florida's growth will return the boom we experienced back from 2000-2005?
Has it been worth it?
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Old 10-08-2007, 03:07 PM
 
Location: Florida
2,209 posts, read 6,914,219 times
Reputation: 599
Yes, absolutely.
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Old 10-08-2007, 03:46 PM
 
Location: Pittsburgh, PA
1,303 posts, read 2,669,979 times
Reputation: 1131
Talking Only if it is affordable

Quote:
Originally Posted by kwflconch View Post
Do you guys think Florida's growth will return the boom we experienced back from 2000-2005? what about school enrollment, do you think it'll stay stable, decline, or eventually boom again? I think all the growth will stay stable for several years and then eventually start booming again.
I cannot imagine that the housing bust in Florida will end without serious market corrections. Those who bought property in Florida were looking at an "investment" 5 years ago. Money was cheap, the Florida economy was booming, jobs were plentiful, and hurricanes were an afterthought. Now, there is a complete reversal in opportunities in your beautiful state. There are so many issues, but the single most important is that Florida housing must be affordable to the residents. The earnings ratios of the state populace to housing prices (including HOI, taxes, maintenance, etc.) are so far out of whack that only a select few can afford to own homes. Look for a five year housing bust with a serious market adjustment (a considerable drop in prices), before any stability will return.
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Old 10-08-2007, 03:50 PM
 
8,376 posts, read 27,785,288 times
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Quote:
Originally Posted by Retiredcoach View Post
I cannot imagine that the housing bust in Florida will end without serious market corrections. Those who bought property in Florida were looking at an "investment" 5 years ago. Money was cheap, the Florida economy was booming, jobs were plentiful, and hurricanes were an afterthought. Now, there is a complete reversal in opportunities in your beautiful state. There are so many issues, but the single most important is that Florida housing must be affordable to the residents. The earnings ratios of the state populace to housing prices (including HOI, taxes, maintenance, etc.) are so far out of whack that only a select few can afford to own homes. Look for a five year housing bust with a serious market adjustment (a considerable drop in prices), before any stability will return.
We agree on something for once! I was just about to make a similar post.
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Old 10-08-2007, 04:04 PM
 
Location: Heartland Florida
9,324 posts, read 23,802,334 times
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Quote:
Originally Posted by 121804 View Post
Has it been worth it?
Absolutely, positively not! A real estate boom is always a bad thing. When real estate is expensive but wages stagnate, it is the sign of a weak economy.
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Old 10-08-2007, 04:05 PM
 
8,376 posts, read 27,785,288 times
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Quote:
Originally Posted by tallrick View Post
When real estate is expensive but wages stagnate, it is the sign of a weak economy.
I like to compare this effect to slowly swirling a bottle of coke, and watching the fizz form on top of the liquid and then settle down after a few minutes. You are only creating an illusion of more that quickly fizzles away.
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Old 10-08-2007, 04:36 PM
 
Location: Pittsburgh, PA
1,303 posts, read 2,669,979 times
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Default An Excellent Post

Quote:
Originally Posted by fort lauderdale View Post
We agree on something for once! I was just about to make a similar post.


Maybe you are becoming wiser with age!!
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Old 10-08-2007, 04:45 PM
 
8,376 posts, read 27,785,288 times
Reputation: 2367
Quote:
Originally Posted by Retiredcoach View Post


Maybe you are becoming wiser with age!!
Well, I would be completely naive not to acknowledge the education and economic issues plaguing Florida. It's just that I see similar issues plaguing a lot of areas in this country...the future doesn't look any brighter or dimmer anywhere else...this is a truly negative statement, but it's true. Real estate markets tend to follow 6 months-1 year behind stock markets. Real estate is hitting the biggest bust since the "roaring twenties" nationwide, and in Florida the effect is even more pronounced, where Broward County lead the state in foreclosure rate with a 615 percent increase. The real estate market is like the fizz on top of the coke (being the stock market). And we all know what happens when the stock market crashes...
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