[markhunt]

Originally Posted by tallrick

There's no redeeming quality to the Florida heat, and the lack of cool groundwater or cool nights makes Florida the most expensive place in the US to air condition, and the humidity rules out swamp coolers. Florida weather is the worst, paws down!

100% Agree!

[mrs1885]

Originally Posted by hiknapster

That's an easy answer. I absolutely hate Naples. What an ugly, overbuilt area with horrible traffic. I could go on and on but I'll leave it at that.

What one may find beautiful the other may find horrendous.

Born and raised on Marco Island, spent my adult life living in Naples. Rural Georgia would be my choice, hands down. I detest what Marco and Naples has become. For me it's not what the price would have to drop to, but the people that would have to leave, the construction that would have to be removed and returned to it's natural state, etc. That's what it would take for me to move back.

I could tolerate the 11 months and 3 weeks of crazy heat and humidity. I could tolerate the crazy amount of stinging and biting insects. But I could no longer tolerate the people and the over population. Like everything else, it's been destroyed for me by those that now reside there.

[big mean bear]

I used to say 1998, but now I say 2001. If prices lowered to what they were in 2001, that would be more than "fair" in my opinion.

If this prediction becomes a reality, they will have to raise taxes to make ends meet and to pay for all the services that northern transplants/malcontents desire ie huge police forces and high tech sewer systems to protect the Manatees. Oh, I forgot, the northern transplants love bike paths as well.

[jbravo]

Another 40% or 1999 prices (whichever comes first.)

[lostbuyer]

I think we might see early 90s prices in alot of florida,do a single family home search on any site for lehigh acres ,2 year old 3/2 1,800 sq ft = $75,ooo. I"m looking at a particular house right now (central florida) 2,oo0 sq ft ,pool,established neighborhood= $129k ,comps in the area went for $115-145k in 1998

[deep-blue-water]

Originally Posted by Need_affordable_home

Great posts everyone. Can anyone re-read my first post about $50k condos in Florida? Maybe You guys can find 100 people that all want to buy a condo and we can cut out the developer as a middle man and go directly to the construction company to get them built. Then we can live in $50k condos instead of paying those greedy developers $150k for the same condo!

there a 50k condos in many parts of florida now aren't there?

how far do you think these prices will fall, there doesn't seem to be an end to bad economic news

[deep-blue-water]

Originally Posted by big mean bear

I
If this prediction becomes a reality, they will have to raise taxes to make ends meet and to pay for all the services that northern transplants/malcontents desire ie huge police forces and high tech sewer systems to protect the Manatees. Oh, I forgot, the northern transplants love bike paths as well.

yeah, just because locals are fine with swimming around in feces in the inshore waters doesn't mean everyone is

[Tungsten_Udder]

Originally Posted by Need_affordable_home

The problem is the cheapest houses in south Florida will cost $150k for a 2/1 shack in a questionable neighboorhood.

What I don't understand is where are folks who are saying this looking for real estate? I don't mean where in terms of geographical areas, but where are you finding listings, how are you searching for them?

[EDIT: Ah--just noticed that the OP is a year and a half old . . . still, I regularly see folks NOW still say that you can't find housing for under price ranges that have to make me wonder where the heck they're looking.]

When we were recently looking (we've got a house under contract now), we found so many desirable properties between, say 150k and just over 200k that we had to make the other criteria more restrictive than we had (such as more square footage, more property, etc.) to make a search feasible, and not have to go through hundreds of properties. We could have found much, much cheaper desirable properties than that, if we would have considered condos, too, if we didn't need as much space as we need, and if we would have considered a wider variety of areas than a fairly specific one we concentrated on for a number of reasons (such as family being nearby, liking the stores, parks, etc. nearby, etc.)

If there was some bizarre reason that properties in the Tampa area are that more overpriced than anywhere else in the state, then unless you've got some fabulous job opportunity, avoid Tampa--and if someone had a fabulous job opportunity that suggested a move to Tampa, then it would be a good enough salary where the higher prices wouldn't be a problem.

Also, re salaries, don't most households have at least two incomes? Two people would have to be making barely minimum wage to only be making 35k per year. If you've instead got two people making 35k per year, then that household's income is 70k per year, and you can afford a slightly more posh place.

North Florida is less expensive but there arent as many jobs and the salaries tend to be lower, I know this, ive checked the classifieds.

Classified ads have never been a particularly good place to hunt for jobs. It's not that you can't find a job through the classifieds, but many jobs do not appear in the classifieds.

Small 1/1 condos should be priced at $50k to $75k to be correctly priced.

You can easily find condos in that price range, and even a bit lower, in many different areas of Florida, including Palm Beach County.

[annerk]

Since when is $30-50K "middle income"? For a family of four that's lower-middle or low income in the majority of Florida counties.

In many cases it's not lack of funds or income that is keeping people from buying, it's uncertainty about the economy and the new administration. Give it six months and we'll see the market become more active.

Some homes are certainly overpriced, but on average the market is where it should be right now. Bottom line, some people will never make enough to buy a home. Home ownership is NOT a birthright, it's something that many simply will never have the means to afford. If people had realized that and not bought $250K houses with $60K incomes because they could qualify on a 2.75% starter rate on a 6 mo ARM we wouldn't be in half the mess we are in now. Of course the greedy banks, lying appraisers, and short-sighted Realtors must share some of the blame as well.

[tallrick]

Originally Posted by annerk

Since when is $30-50K "middle income"? For a family of four that's lower-middle or low income in the majority of Florida counties.

In many cases it's not lack of funds or income that is keeping people from buying, it's uncertainty about the economy and the new administration. Give it six months and we'll see the market become more active.

Some homes are certainly overpriced, but on average the market is where it should be right now. Bottom line, some people will never make enough to buy a home. Home ownership is NOT a birthright, it's something that many simply will never have the means to afford. If people had realized that and not bought $250K houses with $60K incomes because they could qualify on a 2.75% starter rate on a 6 mo ARM we wouldn't be in half the mess we are in now. Of course the greedy banks, lying appraisers, and short-sighted Realtors must share some of the blame as well.

In the Miami area the median income is even lower than that and asking prices are still stubbornly high. Little by little deals are popping up, but it will take a long time and a lot of pain before affordable homes become widely available. Much of Dade county was overpriced in the 90's and the the cocaine cowboy days of the 80's were the first time that homes became overpriced.