2008 Florida Housing market Thread Jan - Mar (West Palm Beach, Jupiter: real estate, condo)

[Wild Style]

fof5 what does that have to do with the price of rice in china?

The topic is the south florida's housing market. If it was that hard to predict, as you insist (this housing and credit bubble) then people like CJ, Bale, Tallrick and myself would not have heard about the pending collapse of said bubble back in 2003 (five years ago). Bottom line is, people bought homes on credit. They over extended themselves and now the bubble is bursting, period. You don't need Mrs. Cleo to tell you this stuff was going to happen.

Also after gaining a degree in economics, I assure you none of this stuff is rocket science as you and others try to make it out to be. It is always and will always be supply and demand and understanding the factors that drive up or push down either one. If you can understand that then you can understand whats going on.

[fof5]

Your babbling guy,If it were so black/white as you like to try and make others believe,not sure if your trying to impress them or what your motive may be,Where is the bottom?housing in FL and the markets?you don't know so about that degree you gained,useless other then for speculation but millions without degrees can speculate.

As for this bubble you claim to have predicted,kinda reminds me of Al Gore and the internet he invented but anyhow a chimp could have seen a bubble comming,no crystal balls needed there.

The trouble in FL is,we pay people up north to pump gas the same money they make there will college educations,the flock of people outside of FL is the only thing kept that state going over the years,that is why they joke about Fl being nothing more then a NJ,NY,Pa etc county.There are only so many rich snowbirds from up north to head south,eventually FL will have to get their act together,education wise,pay wise,that and large corporations are hardly willing to set up their homes there,one bad storm and you have Neworleans all over again,most of those companies left never to return along with the majority evacuated.So what you end up with is decent jobs for the locals retail etc and rich northerns who don't need the economy or lack of one to surrive.

On a federal district/state-by-state basis, Manhattan placed Florida public schools in the cellar with an overall graduation rate of 55 percent, followed closely by Georgia (56 percent), the District of Columbia (58 percent), and Arizona and South Carolina (each 59 percent). New Jersey could boast of the highest overall graduation rate at 87 percent, followed by North Dakota and Utah (each 86 percent), and Iowa (85 percent).

The state counts GED recipients as graduates, while the think tank did not.
"When you add the GED in there, it tends to make the problem look less critical in people's eyes," Jay Smink, executive director of the National Dropout Prevention Center, told the Orlando Sentinel. "Although there is value to getting a GED, I don't want to downplay that, but it is not a high school diploma and it sends a different message to employers


JACKSONVILLE, Fla. -- Florida's public high schools have some of the worst student retention rates in the country, with half qualifying as "Dropout Factories," four times the national average, according to a new analysis of U.S. Education Department data.

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[CJFlorida]

Originally Posted by Wild Style

fof5 what does that have to do with the price of rice in china?

The topic is the south florida's housing market. If it was that hard to predict, as you insist (this housing and credit bubble) then people like CJ, Bale, Tallrick and myself would not have heard about the pending collapse of said bubble back in 2003 (five years ago). Bottom line is, people bought homes on credit. They over extended themselves and now the bubble is bursting, period. You don't need Mrs. Cleo to tell you this stuff was going to happen.

Also after gaining a degree in economics, I assure you none of this stuff is rocket science as you and others try to make it out to be. It is always and will always be supply and demand and understanding the factors that drive up or push down either one. If you can understand that then you can understand whats going on.

Exactly. The housing bubble blog has been laying this out since 2003. All of their posts are time dated, it is easy to prove when they made their predictions.

They explained way back then the exact effect the super low interest rates and subprime loans would have. While the realtor groups were saying one thing, the blog predicted the opposite.

They have been right for 5 years...and the realtor groups/government have been wrong. So after 5 years we should ignore the people who have been correct and listen to the ones that have been wrong?

[fof5]

[SANDYHAIR]

do you think would be a good ideal to do with them instead of sitting on the maket for sooooooooooooo long ?

[Momma_bear]

What do you mean? The banks that own the homes get to decide what to do with them.

[Wendyb0077]

Hi Sandyhair,
It is very sad how many homes are in Foreclosure, Pre-Foreclosure-etc... You are seeing homes on the market in all stages of this process. When the bank gets a home back they do not want to be in the Real Estate business. It is in the best interest of the Lender to get rid of the property as soon as possible, since time is money. If the Lender hasn't taken the property back yet and the homeowner is behind on the mortgage, some lenders will take less then owed on the property (Short Sale) Just to keep from getting the property back. There are a lot of short sales out there. So, to answer your question. It is going to be a long time before this flooded real estate market gets back to normal. Hang in there and hope things start moving again. CJ thinks it will be many years. He could be right! But, there are some really good deals out there. Do your homework...

[Wild Style]

cjflorida

thank you once again in providing accurate info.

fof5

[MrTudo]

It IS a very simple equation. More freedom equals more creativity, investment and prosperity. Less freedom equals less creativity, investment and prosperity.

Now that the media has more or less decided who will lead the government of this country, along with the masses of people who cannot or do not want to accept responsibility and take care of themselves, teh warfare and welfare state will expand in the years ahead thereby resulting in an even larger government and less freedoms. Therefore less creativity, investment and prosperity ( for the majority ).

I read the other day that despite Floridians voting for lower property taxes there are several towns/cities in Broward Cnty that are "raising" property taxes?

LOL, that should tell you all you need to know.

Nothing complicated about it.

[TampaKaren]

I heard that LeHigh is looking into demolition. Eeeek!