are you all in northern fla leaving for nc too?

[David in JAX]

I also agree this mess is not the fault of the banks. The Federal Reserve had to drop the overnight rate to 1% after 9/11 to keep our country out of a massive financial crisis. How mortgages were then affected is then a discussion of it's own. But, I don't believe it was the fault of developers either. Developers were just providing a product that people were willing to buy at a price they were willing to pay. It's no different than cars, furniture, computers or any other consumer product. I think fault lies with the "investors" who were buying new houses site unseen hoping to sell them for a quick profit and buying old houses to flip. Now that the game is up and the easy money is gone, JAX is left with about 27,000 existing homes (MLS listings + 15% FSBO) for sale, an unknown number of new homes for sale, and fewer and fewer buyers to move the unwanted inventory.

HousingTracker: Median Home Price & Inventory Data for Jacksonville, Florida

Florida Association of Realtors :: Media Center

[cval]

Originally Posted by David in JAX

I've contacted the blog adminstrator on the 2007 numbers. I will post them when I get the link. In the mean time, how about this. Bookmark this discussion. When the 2007 US census numbers are out we will do the following.

If Jacksonville's January 08 unemployment rate is below 4%, housing prices have stabalized, and the Florida 2007 population estimates have not fallen, I will admit that I was completely wrong and publicly bow down to Cval's greatness on this forum with it's own thread.

If Jacksonville's unemployment is 4% or greater, home prices have not stabalized, and the Florida population estimates have fallen, you will admit that I was correct on a new thread.

Deal?

First of all you should bow down to my greatness no matter what.

Again you mislead with your numbers. The Housing market will not stabalize this year or will the pricing totally tank.

Talk to me about Unemployment when it is a rate that matters 4% does not. Jax is still below the national average and well below what it has been in years. The numbers for unemployment are released monthly by the way.

Did you actually read the articles you sent out? The reason they give in the article for declining students had very little to do with declining population.

I am not here to make great predictions on numbers that you skew that is foolish.

I would advise people to be cautious the economy is cyclical and yes we will go into anothe recession but Florida will not be hit as hard as you are making it out to be. Jacksonville is still the hidden gem of Florida that is set-up nice for growth.

As of now the economy is strong the housing market is not near as bad as you are making it out to be and unemployment is low. enjoy people enjoy.

[David in JAX]

Originally Posted by cval

I would advise people to be cautious the economy is cyclical and yes we will go into anothe recession but Florida will not be hit as hard as you are making it out to be. Jacksonville is still the hidden gem of Florida that is set-up nice for growth.

As of now the economy is strong the housing market is not near as bad as you are making it out to be and unemployment is low. enjoy people enjoy.

Nice about face Cval. First I was just an infomercial student worried about the local economy and now you are calling for a recession. Glad to see you change your mind and realize that things aren't as rosy in Florida as you originally said. I applaud you. Way to play both sides without providing any facts.

[Ali In Duval]

Originally Posted by verobeach

NC is not perfect. It is just as hurricane prone as Florida and it's actually hotter there than it is in Florida in the summer months.

I don't know what planet you're from, but having grown up in NC, I can assure you that there is NO WAY that it's hotter there than here. Florida is land of humidity and that in itself makes it hotter. NC has some humidity yes, but nothing like down here.

[backtofla]

i agree, ali in duval. i've lived in both, and fla has hotter days and for a longer period of time.

[cval]

Originally Posted by David in JAX

Nice about face Cval. First I was just an infomercial student worried about the local economy and now you are calling for a recession. Glad to see you change your mind and realize that things aren't as rosy in Florida as you originally said. I applaud you. Way to play both sides without providing any facts.

When the economy is growing (which it is) there is always a down turn. All economic indicators shows that a recession is no where in sight.

Again you only read what you want to hear not the meaning of the post.

I still think you bought some book or course and now think you have all the facts sad really.