2008 Florida Housing market Thread Jan - Mar (credit, loans)

[carlnasc]

Just food for thought, comments are appreciated:

University of Florida News - UF survey: Few Floridians think their house values will dip in five years
University of Florida News - Florida’s housing market shows surprising resilience despite pessimism
University of Florida News - UF survey: Florida’s real estate report mixed instead of entirely bad
University of Florida News - Housing crisis sinks Florida consumer confidence to 16-year low

[Wild Style]

“What these apocalyptic accounts fail to consider is that job formation and migration to the state are still strong, and these are the factors that drive the real estate market,” he said.

I giggled inside at this part. People coming to Florida has dropped to 30,000 from 130,000 or whatever the number was previously. There was also news that more seniors are leaving than coming in. I think these people are a bit ill informed.

[bale002]

Originally Posted by Wild Style

I giggled inside at this part. People coming to Florida has dropped to 30,000 from 130,000 or whatever the number was previously. There was also news that more seniors are leaving than coming in. I think these people are a bit ill informed.

Indeed, to put it mildly. The so-called analysts at UF are not known for their credibility.

Remember that behind any reports or statistics that you read there is somebody's agenda.

[firemed]

But now with the tax cuts people will get here just in time for a deal Right. With the new cut I will save money until the new HOI bill comes in. And yes retired people are moving out.

Property-tax cuts unlikely to lift housing market soon - 02/04/2008 - MiamiHerald.com (broken link)

[hiknapster]

Originally Posted by CJFlorida

The wealth transfer to the top 1/10th percent has been epic the last few years. They have the middle class right where they wanted them, in debt up to their ears and worried about their jobs enough to be very 'productive'.

Now the folks with money will swoop in once prices bottom out, buy the houses cheap, and rent them back to the people.

The past 7 years have been a great example of how big money works. The thought that Joe Q. Public could get rich off their houses, take out equity to buy expensive things, and live happily ever after was a mirage.

In the end, the super rich know how to play the rest of us like fiddles.

I wish more people would realize this. Instead we recite the credo "America is the best country in the world" and turn on American Idol. There's a reason that education is horrible in this country and it is intentional.

[Wild Style]

Originally Posted by firemed

But now with the tax cuts people will get here just in time for a deal Right. With the new cut I will save money until the new HOI bill comes in. And yes retired people are moving out.

Property-tax cuts unlikely to lift housing market soon - 02/04/2008 - MiamiHerald.com (broken link)

if people only knew what those tax cuts are doing to public schools and universities.

[hiknapster]

Originally Posted by Wild Style

if people only knew what those tax cuts are doing to public schools and universities.

But do they care?

[CJFlorida]

Originally Posted by Wild Style

I giggled inside at this part. People coming to Florida has dropped to 30,000 from 130,000 or whatever the number was previously. There was also news that more seniors are leaving than coming in. I think these people are a bit ill informed.

You are right, that quote is hilarious. Sure jobs support the housing market....a housing market that is 2.5-3 times median area income.

Funny loans supported the housing market the last 5 years. Now we shall see what price levels can be supported without these bad loans.

[Wild Style]

Originally Posted by hiknapster

But do they care?

Probably not. I work at university and funding from the state has seen double digit cuts. In public schools they haven't started lay offs yet. They are hoping, enough teachers will retire, so they wont have to. I know this because, I know teachers here and they are telling me what is coming down the grape vine. FAU has a hiring freeze and FIU is talking about nice size layoffs. I hope people can weather this gathering storm thats brewing.

thank you Mr. Greenspan

[lostbuyer]

"Few floridians think their house values will dip in five years" who cares what these debt rich floridians THINK,data charts think otherwise,who will be right??but to some extent they are right no dip,more like a splash mountain freefall.