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Old 04-01-2011, 03:02 PM
 
Location: Central Fl
2,903 posts, read 12,534,532 times
Reputation: 2901

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I would think that at least locally the next "boom" will be driven by baby boomer retirees. A good amount of them will be selling their existing homes and paying cash for their Florida home.

Where I bought, I was told by Realtors that about half of them do just that.....

Frank

 
Old 04-01-2011, 03:05 PM
 
Location: The Conterminous United States
22,584 posts, read 54,285,430 times
Reputation: 13615
Forget stocks. Don't bet on gold. After four years of plunging home prices, the most attractive asset class in America is housing.

"I'm a dirt-road economist who sees what's happening on the ground, and in 35 years I've never seen a shortage of new construction like the one I'm seeing today," declares (Mike) Castleman, 70, now offering a biscuit to his miniature donkey Thumper. "The talking heads who are down on real estate will hate to hear this, but America needs to build a lot more houses. And in most markets the price of new homes is fixin' to rise, not fall."

Real estate: It's time to buy again - Fortune Finance

Fabulous article. No agenda, just facts. It addresses the entire nation, from cities that didn't see much of a boom or bust to the "distressed" areas where foreclosures were the highest. I suggest anyone that is interested in real estate read every word.
 
Old 04-01-2011, 03:11 PM
 
1,299 posts, read 2,349,784 times
Reputation: 245
Quote:
Originally Posted by faithfulFrank View Post
I would think that at least locally the next "boom" will be driven by baby boomer retirees. A good amount of them will be selling their existing homes and paying cash for their Florida home.

Where I bought, I was told by Realtors that about half of them do just that.....

Frank
Maybe once prices recover. But the sale of existing homes is dismal at best.
So if you can't sell your home elsewhere then a lot of people wont be able to buy here.
I have been trying to make that point for quite awhile, but the sentiment for some people here seems to be that The real estate market elsewhere does not effect The local SWFL market But it does BIG TIME.
This is simple logic but some people are just in denial about that.
 
Old 04-01-2011, 03:34 PM
 
Location: Cape Coral, FL USA
616 posts, read 1,564,475 times
Reputation: 314
Quote:
Originally Posted by equalrightsforeveryone View Post
All true but the problem is that there simply is not enough cash around to have any kind of market.
Without a healthy mortgage market the housing market will totally collapse. How many people can really afford to buy a home with cash, most young people can't and they will be driving the next Boom when it comes.
Well, looks like more people have jobs to help support the housing ...

Unemployment rate falls to 8.8 pct, two-year low - NBC-2.com WBBH News for Fort Myers, Cape Coral & Naples, Florida

"The Labor Department says the economy added 216,000 new jobs last month, offsetting layoffs a local governments. Factories, retailers, education, health care and an array of professional and financial services expanded payrolls."

Yes, I know this is a national number - but since some people only post things on a National level....
 
Old 04-01-2011, 05:06 PM
 
Location: Florida Space Coast
2,356 posts, read 5,091,624 times
Reputation: 1572
Quote:
Originally Posted by equalrightsforeveryone View Post
Maybe once prices recover. But the sale of existing homes is dismal at best.
So if you can't sell your home elsewhere then a lot of people wont be able to buy here.
I have been trying to make that point for quite awhile, but the sentiment for some people here seems to be that The real estate market elsewhere does not effect The local SWFL market But it does BIG TIME.
This is simple logic but some people are just in denial about that.
If what you are saying was true then you would see low volume of sales in lee county. But instead you see sales higher in the last 28 months then they have ever been in history
 
Old 04-01-2011, 08:24 PM
 
222 posts, read 473,071 times
Reputation: 103
Quote:
Originally Posted by nhkev View Post
If what you are saying was true then you would see low volume of sales in lee county. But instead you see sales higher in the last 28 months then they have ever been in history

Not another bubble?!!!
 
Old 04-01-2011, 08:46 PM
 
Location: cape coral
244 posts, read 487,530 times
Reputation: 169
I have a hard time understanding all those numbers and charts, which are stating that the housing slump is far from over. We are seeing (here in lee County, Florida) exactly the oposite happening. The market is fast, we have a lot of buyers (and investors) here, picking up those good priced properties. We are seeing mulitple offers on one single home and we are seeing home selling above asking price. We are currently selling more homes than we did in the high market of 2005. Here in our area (Lee County, Florida) I think we are at a turning point - the market is slowly switching from a buyer's market back to a seller's market.
 
Old 04-10-2011, 12:39 PM
 
1,299 posts, read 2,349,784 times
Reputation: 245
Some new info on the local market. Still no light at the end of the tunnel.

" in early 2006 I predicted the market was in for a big downturn. Many people thought real estate prices would soon rebound from a mild slump. I am not that optimistic of that nature."

Full story
What lies ahead in real estate market? - cape-coral-daily-breeze.com | News, sports, community info. - Cape Coral Daily Breeze
 
Old 04-10-2011, 01:24 PM
 
Location: cape coral
244 posts, read 487,530 times
Reputation: 169
Quote:
Originally Posted by equalrightsforeveryone View Post
Some new info on the local market. Still no light at the end of the tunnel.

" in early 2006 I predicted the market was in for a big downturn. Many people thought real estate prices would soon rebound from a mild slump. I am not that optimistic of that nature."

Full story
What lies ahead in real estate market? - cape-coral-daily-breeze.com | News, sports, community info. - Cape Coral Daily Breeze
see my answer above. I don't know where they get their info from, but in realty there is a complete different picture. Prices are going up, inventory is going down. And that is what is happening now and not 1 year ago or 1 year ahead. There is plenty of cash money in the real estate market and also lenders are lending again.
 
Old 04-10-2011, 02:13 PM
 
Location: The Conterminous United States
22,584 posts, read 54,285,430 times
Reputation: 13615
That guy is so full of it.

From 2009:

Student housing is a very hot investment - cape-coral-daily-breeze.com | News, sports, community info. - Cape Coral Daily Breeze

Last year:

Now
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