[nychiefsfan]

Originally Posted by lostbuyer

The Daily News “More than 300 people with a keen interest in the Emerald Coast’s real estate market gathered Wednesday at Destiny Worship Center to ask for God’s blessing. The Real Estate Prayer Luncheon was organized in hopes of breathing life and positive thinking into the area’s slumping housing market.”

this is to funny......cant deny the popping bubble now.....REAL ESTATE PRAYER LUNCHEON....who would of thought....

Great job on your research!

(((standing ovation)))

[nychiefsfan]

Buckle up -- we're in for a bumpy ride
Mike Thomas

Florida is in a serious funk.

The big question is whether this now turns into a serious recession.

In a May report, Goldman Sachs economist Jan Hatzius called Florida the "Epicenter of the U.S. Housing Bust." Home prices are overvalued by 40 percent, with Florida also having the biggest glut of homes on the market in America.
comments Audacious???

Prices will drop over a few years, with the correction "likely to cause an outright recession." comments Audacious???

Hatzius warned that "businesses with significant sales in Florida could encounter problems for an extended period of time." comments Audacious???

There are some disturbing signs of bad times ahead.

Consumer confidence in Florida is falling, according to surveys by the University of Florida's Bureau of Economic and Business Research Office. comments Audacious???

Residents are "growing much more pessimistic about the economy and their finances," says survey director Chris McCarty. comments Audacious???

The gloom has spread from low-income workers, who take the biggest hit with rising gas prices, to those in the upper income levels. With a healthy stock market, McCarty blames the sour mood on housing.

"I think a lot of people used home equity to fuel spending, and that is not there now," he says. "I don't think steady employment growth is enough to make up for that." comments Audacious???

Hatzius' report backs this, citing numbers that show Florida residents fueled spending more with equity loans than did homeowners in the nation as a whole.

Sales-tax figures from the state show spending is falling fast. comments Audacious???

Tax collections in April came in $43 million less than what was predicted. And the prediction was made in March. comments Audacious???

In May, collections came in a whopping $70.3 million below the prediction. comments Audacious???

The trend line is not good.

The meltdown scenario would be if reduced spending leads to layoffs, because the job market here has been our saving grace.

The soft-landing scenario is that jobs and income growth remain strong, allowing the market to absorb the huge inventory of homes without major price corrections. There are analysts who believe this will be the case and think fears of a Florida recession are greatly exaggerated.

This puts into perspective the insanity of trying to block Nemours from building its children's hospital here, helping kick-start a medical city at Lake Nona that could create thousands of high-paying jobs.

We will need every one.

Hatzius, at Goldman Sachs, says Florida won't get much of a bounce from an increase in international trade because we have so few manufacturing jobs. That's one reason why he is not predicting a national recession, just one here.

Home builders are cutting back because of the housing glut. Construction here accounts for 7 percent of the state's economy, compared with 4 percent nationally. And that doesn't include the army of real-estate agents and mortgage brokers that depends on home sales.

Florida's economy is addicted to growth. And there even is a hiccup in that, with a puzzling statewide decline in school enrollment this year.

"Is there a sea change going on in our state?" says Dominic Calabro, president of Florida TaxWatch. "Back in January we heard concerns, and they've only been more validated." comments Audacious???

As for a recession, Calabro says, "I'm not ready to go there yet. We're seeing a yellow light. It's a great warning sign. We just can't sit on our laurels and assume we'll always have population growth and job growth as far as we can see."

Buckle up -- we're in for a bumpy ride -- OrlandoSentinel.com

C'mon Audacious. Let's see you try to wriggle out of answering to the bold print in this article.

Let the entertainment begin...

[nychiefsfan]

I see the stock market is taking a beating today:

Last Change % Chg
DJ Industrials 13414.80 -131.04 -0.97%
Nasdaq Composite 2595.10 -21.86 -0.84%
S&P 500 1507.95 -14.24 -0.94%
DJ Wilshire 5000 15246.77 -129.26 -0.84%
Russell 2000 834.39 -5.42 -0.65%
DJ World ex U.S. 269.14 -0.51 -0.19%
Japan: Nikkei Average* 18188.63 -51.67 -0.28%
DJ Stoxx 50* 3922.84 -11.14 -0.28%
UK: FTSE 100* 6567.40 -28.60 -0.43%

that's my fault, right Audacious? I guess now's a good time to buy...

[Audacious]

Originally Posted by nychiefsfan

Buckle up -- we're in for a bumpy ride
Mike Thomas

Florida is in a serious funk.

The big question is whether this now turns into a serious recession.

In a May report, Goldman Sachs economist Jan Hatzius called Florida the "Epicenter of the U.S. Housing Bust." Home prices are overvalued by 40 percent, with Florida also having the biggest glut of homes on the market in America.
comments Audacious???

Prices will drop over a few years, with the correction "likely to cause an outright recession." comments Audacious???

Hatzius warned that "businesses with significant sales in Florida could encounter problems for an extended period of time." comments Audacious???

There are some disturbing signs of bad times ahead.

Consumer confidence in Florida is falling, according to surveys by the University of Florida's Bureau of Economic and Business Research Office. comments Audacious???

Residents are "growing much more pessimistic about the economy and their finances," says survey director Chris McCarty. comments Audacious???

The gloom has spread from low-income workers, who take the biggest hit with rising gas prices, to those in the upper income levels. With a healthy stock market, McCarty blames the sour mood on housing.

"I think a lot of people used home equity to fuel spending, and that is not there now," he says. "I don't think steady employment growth is enough to make up for that." comments Audacious???

Hatzius' report backs this, citing numbers that show Florida residents fueled spending more with equity loans than did homeowners in the nation as a whole.

Sales-tax figures from the state show spending is falling fast. comments Audacious???

Tax collections in April came in $43 million less than what was predicted. And the prediction was made in March. comments Audacious???

In May, collections came in a whopping $70.3 million below the prediction. comments Audacious???

The trend line is not good.

The meltdown scenario would be if reduced spending leads to layoffs, because the job market here has been our saving grace.

The soft-landing scenario is that jobs and income growth remain strong, allowing the market to absorb the huge inventory of homes without major price corrections. There are analysts who believe this will be the case and think fears of a Florida recession are greatly exaggerated.

This puts into perspective the insanity of trying to block Nemours from building its children's hospital here, helping kick-start a medical city at Lake Nona that could create thousands of high-paying jobs.

We will need every one.

Hatzius, at Goldman Sachs, says Florida won't get much of a bounce from an increase in international trade because we have so few manufacturing jobs. That's one reason why he is not predicting a national recession, just one here.

Home builders are cutting back because of the housing glut. Construction here accounts for 7 percent of the state's economy, compared with 4 percent nationally. And that doesn't include the army of real-estate agents and mortgage brokers that depends on home sales.

Florida's economy is addicted to growth. And there even is a hiccup in that, with a puzzling statewide decline in school enrollment this year.

"Is there a sea change going on in our state?" says Dominic Calabro, president of Florida TaxWatch. "Back in January we heard concerns, and they've only been more validated." comments Audacious???

As for a recession, Calabro says, "I'm not ready to go there yet. We're seeing a yellow light. It's a great warning sign. We just can't sit on our laurels and assume we'll always have population growth and job growth as far as we can see."

Buckle up -- we're in for a bumpy ride -- OrlandoSentinel.com

C'mon Audacious. Let's see you try to wriggle out of answering to the bold print in this article.

Let the entertainment begin...

Before I answer I did note something interesting re the Dow Jones NASDAQ and so on. how you show them being down to support your position. When I first started the Dow was at 750 and a 10 million share day was considered fantastic!


Where is the Dow today and how many shares are traded in an average day?




As to your questions above I hope a simple answer is sufficient.



HISTORY !

[Spree]

>>C'mon Audacious. Let's see you try to wriggle out of answering to the bold print in this article.

Let the entertainment begin...<<

::: yawn ::: come on guys, take it to private message

[Audacious]

Originally Posted by labamba

>>C'mon Audacious. Let's see you try to wriggle out of answering to the bold print in this article.

Let the entertainment begin...<<

::: yawn ::: come on guys, take it to private message

LOL, yea I guess it does reach a point where it becomes pointless.


I'll behave

[nychiefsfan]

Originally Posted by Audacious

LOL, yea I guess it does reach a point where it becomes pointless.


I'll behave

and you've still proved nothing.

game...set...match

[kort677]

Originally Posted by nychiefsfan

and you've still proved nothing.

game...set...match

only in your little fantasy world!
your approach to this discussion has become quite juvenile, let your facts stand one their own and skip the taunting. Other than this message, I will not discuss anything with you because of your childish demeanor.

Believe it or not everyone does not have to agree with your opinions and your opinions don't hold true for every location in FLA. There are many places that are holding and even increasing in value, despite all the crap that you post to the contrary.
you can keep posting all the data that you can find that bolsters your views but the fact remains that history is not on your side.
Sure it's possible that some fla real estate might stay weak for another year or two, but every time for the last 100+ years the market has always snapped back after a boom and bust cycle like this one.
All you are doing is massaging the info into something that fits your myopic view of things and you ignore or disparage anything that doesn't fit neatly into your view of things.

Too bad for you, too bad that your mind is so closed that it is inconceivable that other valid opinions can exist.
I wouldn't want to be you when the day comes and the market has balanced and you'll still be chanting your nonsense.

[JimKing]

Well, it is indeed getting rather pointless and childish. But only because any reasonable person can sift through the stacks and stacks of evidence and conclude that Florida real estate is in huge trouble. It is not increasing anywhere, unless you look at $20 mil. beach front house toys that the uberrich trade.

Pretty much all of Florida is decreasing monthly. Inventory is growing every quarter. Just this last week so much more evidence has come out that you can find on any housing blog. The downturn has barely begun and is picking up momentum month by month.

Even seasoned real estate veterans with 20-40 years experience are starting to say they can not believe how dismal things are becoming.

Honestly, it really is over for me arguing these points. It is truly a waste of time because the evidence is so overwhelming. Anyone saying Florida real estate is not in for a long and serious funk is simply trying to get a rise out of people....or is in the real estate business.

[info please]

KORT , Go over to the tampa site and look what a realtor has to say .he sounds right on the money to me . WHEN WILL THE HOUSING MARKET RECOVER