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Old 12-19-2008, 08:21 PM
 
Location: Jax
8,200 posts, read 35,465,931 times
Reputation: 3443

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Quote:
Originally Posted by Joe 4520832257 View Post
Exactly! Jax is projected to do much better than other Florida cities.

For some strange reason, the Forbes survey ranked by an unusual criteria that has no direct relationship to the actual number of foreclosures.
The numbers look nice and dramatic though ! Gotta sell those glossy mags!
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Old 12-22-2008, 09:37 AM
 
2,415 posts, read 4,248,544 times
Reputation: 3791
Quote:
Originally Posted by Joe 4520832257 View Post
Exactly! Jax is projected to do much better than other Florida cities.

For some strange reason, the Forbes survey ranked by an unusual criteria that has no direct relationship to the actual number of foreclosures.
There are some facts that are somewhat promising. As a nation, the number of homebuyers that are country produces right now in terms of birth rates, financial abilities, average buying ages, etc. is right around 1 million new homes per year. The number of new homes being built right now is between 6-700,000, and one of the main reasons people aren't buying new homes is the tight credit. I know people with credit scores in the 800's who can't get a loan right now.

What this means to me is that there is a growing pent up demand for new homes, and once the credit starts to ease, I think you're going to see the floodgates open on homebuying. When this will happen I have no idea, but I and many others sure hope it happens soon. My only wish is that the builders won't do what they did in the past and that is to start the cycle of overbuilding and creating an excess of inventory like they did from 02-05 which would cause the same problem all over again. But alas, the construction industry has a very short term memory, and I'm sure they'll create the same cycle all over again.

I will say this though...you would think with it being slower that everyone would be building a better house because they have more time to pay attention to the details, but amazingly the exact opposite is true. Because things are so tight, a lot of the builders are actually cutting every corner they can to save a few bucks, so be careful who you choose as a builder. I know one builder who claims to build "luxury" homes and they are buidling possibly the worst quality home in Jacksonville.
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