ORLANDO or FLORIDA INVESTMENT (Tangelo Park: to rent, mortgage, loan)

[chopchop0]

Originally Posted by chaseo1

As stated in another thread, once foreign money runs out we are headed for a pop again in the fl housing bubble...

Nope

Originally Posted by annerk

I'm not so sure about that.

Consider a few things:

1. The job market continues to improve. People will have the money--and the confidence to buy homes.

2. There has been significant growth with the creation of well paying jobs in STEM careers in this area.

3. People who lost homes back in 2009-2011 and who have repaired their credit will be eligible to buy again within the next 1-3 years.

4. The stock market is doing reasonably well and Baby Boomers who have been putting off retirement until their 401k to recover any losses will now go ahead and retire. This will benefit the Central Florida housing market in two ways.

First, there will be an influx of retirees from the north moving to the area and buying homes. (I personally know of three couples who have done so in the past six months)

Second, as those workers from this group who are local retire, it will open mid and upper level positions which will allow people who have been stagnate in job advancement to move up, and open new entry level positions to new applicants, particularly the under employed and new grads. That will allow many to now have the ability to buy homes.

Yup.

China and, as a consequence, Brazil are struggling big time with Low oil prices and slacking demand.

The USA in contrast is actually the best looking horse in the global economy race currently.

[chaseo1]

Originally Posted by StreetSmarts

That was me, I said it.

Watch for it.

Put it this way, I'm not gonna buy a house in the next 2-3 yrs, I'm gonna wait... maybe not even buy in FL period. Dont want to be held down here again.

Agree completely, of course the realtors and flippers like 2 posters above will try to convince you otherwise but truth is floridas median household income is over 12% lower than the national average, hardly the 'growth' needed to sustain a 30% rise in prices since 2010

[Joey Falcon]

Originally Posted by bmw335xi

If you would venture off your front yard, you'd know it's not just happening in Florida, the housing market has always gone through booms and busts along with the economy. I'm not sure why this is so hard to understand

OP don't mind StreetSmarts, I think he blames immigrants for all his financial problems.

You've been away from here for awhile. I'm not sure you understand the market.

[StreetSmarts]

Originally Posted by chaseo1

Agree completely, of course the realtors and flippers like 2 posters above will try to convince you otherwise but truth is floridas median household income is over 12% lower than the national average, hardly the 'growth' needed to sustain a 30% rise in prices since 2010

I'm in the industry, not in sales tho. I'm just being honest. Me lying about it wouldn't change anyones mins about buying here, or its not gonna have any impact because there are millions of ppl moving here that wont read this post, lol, so I would rather just speak my mind and be honest about it.

[bmw335xi]

Originally Posted by Joey Falcon

You've been away from here for awhile. I'm not sure you understand the market.

I've made over 4 offers on homes in Orlando in the past two years, how many have you made? Oh wait, you are still figuring out how you can one day rent an apartment in Lake Mary.

[kyle19125]

Originally Posted by chaseo1

Agree completely, of course the realtors and flippers like 2 posters above will try to convince you otherwise but truth is floridas median household income is over 12% lower than the national average, hardly the 'growth' needed to sustain a 30% rise in prices since 2010

Not to mention the job growth being seen largely is also unsustainable via all the new "opportunities" being offered via fast food restaurants and convenience stores.

Rick Scott

[chopchop0]

Originally Posted by chaseo1

Agree completely, of course the realtors and flippers like 2 posters above will try to convince you otherwise but truth is floridas median household income is over 12% lower than the national average, hardly the 'growth' needed to sustain a 30% rise in prices since 2010

Household income has no bearing on change in housing prices. Migration and moving trends do though.

FL has been a destination state for decades, hampered only by the great recession. The migration trends towards FL have picked up again however.

2013 Moving Map - Business Insider

10 Reasons Florida Will Always Be The Best State To Retire In*|*Moira McGarvey

Florida has passed New York as the nation's third largest state, according to population estimates released today by the U.S. Census Bureau. - Orlando Sentinel

[annerk]

Originally Posted by chaseo1

Agree completely, of course the realtors and flippers like 2 posters above will try to convince you otherwise but truth is floridas median household income is over 12% lower than the national average, hardly the 'growth' needed to sustain a 30% rise in prices since 2010

I'm neither a Realtor nor a flipper. I own one home, the one I live in. I have owned it since 2003 and plan on staying in it for the foreseeable future.

[annerk]

Originally Posted by Joey Falcon

You've been away from here for awhile. I'm not sure you understand the market.

Like you do? You don't own a home, and can't even pay the bills you have while living with you mother. You have purposely put yourself into debt that you have no way of repaying. Anyone taking any sort of financial advice from you would have to be nuts.

[bmw335xi]

Originally Posted by chaseo1

Agree completely, of course the realtors and flippers like 2 posters above will try to convince you otherwise but truth is floridas median household income is over 12% lower than the national average, hardly the 'growth' needed to sustain a 30% rise in prices since 2010

As I mentioned before, booms and busts have happened in the past and will happen again in the future and the cycle will repeat throughout our lifetime and our children's lifetime. This isn't anything new unless you just weren't paying attention before. However, we are not anywhere near the bubble we were in 2008. Most buyers are still qualified with nice down payments versus 2008 when people were using stated income, stated assets with little to no down payments.