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I am posting this FYI. The local home builders association has a big ad on TV that 1200 people a month are moving to Florida (I can't remember if they said Central Florida or just Florida in general). The ad indicates that the backlog of houses is being caught up and that, while it is still a buyer's market, that will be disappearing within the next several months.
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Completely inaccurrate.... The Orlando Sentinel had an article late this week stating that housing inventory is at 16 months and some change. The HIGHEST level in over 10 years. On top of that Seminole County is projecting to LOSE student population this coming up school year.....
tallrick when was the last time you was in a european country to compare the two . you answer yourself here with what made this great is freedom . which means you are free to get a better job and free to get a better house that cost more and have some nice things in life no one makes you work on a fixed income you do that too yourself . because you are free to quit your job and work for yourself free to do anything you like
Too bad many of those freedoms are gone. Government control is one of the many reasons our dollars have become worth less and less. If you have a job you are on a fixed income, that's reality. Businessmen like myself are worse off when slow months come around. It isn't as easy as just getting more income. Since this real estate bubble has inflated my business has remained about the same, but the expenses more than tripled. At home taxes have been eating me up and forget about insurance. There's simply not enough income in this area to support this bubble...PERIOD! I don't know what the greedy governments will do when tax revenues actually decrease.
Completely inaccurrate.... The Orlando Sentinel had an article late this week stating that housing inventory is at 16 months and some change. The HIGHEST level in over 10 years. On top of that Seminole County is projecting to LOSE student population this coming up school year.....
With regard to the students, see your article here for the full information--many school districts are seeing a drop. www.orlandosentinel.com/news/local/state/orl-housing1607feb16,0,725687.story?coll=orl-news-headlines-state (broken link)
I had to laugh about the Orlando Sentinel's article you quoted above re: projections of housing inventory since the Sentinel also had an article saying 2006 would be a record year for housing sales--they report what they find. With regard to the 16 month inventory, see www.orlrealtor.com and click on housing statistics which attributes the 16.1 month inventory mostly to townhomes and condos. Because those sales are slowing, the apartment complexes turned condo are renting those units out, to the joy of renters who couldn't find a home a year ago. Signs for condo sales show 1/1's starting at $149,000.
Actually the homebuilders association ad, which showed again today, said 1200 people a month are moving to Central Florida. A Florida real estate blog shows it as 1200 a day, which I find hard to believe. You can see the ad and other info re: decisions to buy a house, etc. at www.realopportunitycfl.com. Click on the "News Desk" link and you'll find a good Business Week article about how bad the 2007 housing market will be with real estate projections overall re: a slight increase in housing prices and more.
See also the links below for stats re: Orlando (#4 for jobs per Forbes--the lower the number the better). Other Orlando stats listed in Forbes are:
Unemployment rank: 5
Cost of living rank: 52
Median household income rank: 57
Income growth rank: 11
Job growth rank: 6
If someone is considering a move to Orlando, it is important to provide as much research as possible for them. The inventory is the highest it's been in many years because, among other thing, housing prices didn't raise that much since the 1990's and because of the huge condo conversion, possibly to accommodate the European interest in Central Florida. In any event, it's a buyer's market now, and hasn't been that way in the past several years.
Did you happen to read Forbes statement on why Orlando was #4???
To paraphrase: "Real estate may be slumping a little, but tourism and the service industry continue to provide plenty of jobs in the area...."
IOW, just what people have been saying here. Stagnant housing, though prices aren't dropping much, and a bunch of low-paying jobs to help you pay that over-priced mortgage....
(You aren't the only one that's done research on real estate in multiple areas.... I'm doing it because I'm looking to move, what's your motive I wonder???)
Oh, I see...... You're linking to the July 2006 Forbes article for starters.... Try the most recent..
The rank is the same, but the explaination is what strikes me.. I don't recall too many arguing that there weren't jobs available here. Only that the available jobs don't pay what is necessary to be able to afford the inflated housing prices...
Last edited by Rhett_Butler; 02-19-2007 at 10:03 PM..
Did you happen to read Forbes statement on why Orlando was #4???
To paraphrase: "Real estate may be slumping a little, but tourism and the service industry continue to provide plenty of jobs in the area...."
IOW, just what people have been saying here. Stagnant housing, though prices aren't dropping much, and a bunch of low-paying jobs to help you pay that over-priced mortgage....
(You aren't the only one that's done research on real estate in multiple areas.... I'm doing it because I'm looking to move, what's your motive I wonder???)
Oh, I see...... You're linking to the July 2006 Forbes article for starters.... Try the most recent..
Here ya go... The rank is the same, but the explaination is what strikes me.. I don't recall too many arguing that there weren't jobs available here. Only that the available jobs don't pay what is necessary to be able to afford the inflated housing prices...
Wow, so hostile. We're not disagreeing at all as to what's happening here and all up the east coast for that matter. It's a mess and very difficult times for people even remotely considering a move to Orlando. I read a message from a man indicating he'd just not make enough to afford a house, no matter how many jobs he had. You don't have to open up the book of "Duh" to see that the links I've posted are not pretty pictures. I've earlier expressed concerns about the cost of housing versus the wages. However, you indicated the information I set forth with regard to an ad I saw from the homebuilders' association was "completely inaccurate," when it really wasn't. I just think people considering a move and worried about investing in homes that have increased so drastically in price need as much projections and information as possible--good and bad-- as opposed to opinions, and that is my "motivation."
Good luck on your move.
Wow, so hostile. We're not disagreeing at all as to what's happening here and all up the east coast for that matter. It's a mess and very difficult times for people even remotely considering a move to Orlando. I read a message from a man indicating he'd just not make enough to afford a house, no matter how many jobs he had. You don't have to open up the book of "Duh" to see that the links I've posted are not pretty pictures. I've earlier expressed concerns about the cost of housing versus the wages. However, you indicated the information I set forth with regard to an ad I saw from the homebuilders' association was "completely inaccurate," when it really wasn't. I just think people considering a move and worried about investing in homes that have increased so drastically in price need as much projections and information as possible--good and bad-- as opposed to opinions, and that is my "motivation."
Good luck on your move.
I apologize for my tone and must have misread yours.... The part about the homebuilders ad saying that 1200 people are moving to Orlando just seems like such a slanted source that I wondered how we could really take that information without an entire shaker full of salt and the fact that you didn't appear phased by who was saying this lead me to believe that maybe you were approaching this from the point of view of a realtor.....
Orlando has always had discrepencies in affordable housing and IMO statistics. The average wage and the average cost of a house has always been out of balance. The statistics that there are 1200 people moving into the state everyday are talk that has always been around. What it fails to mention is how many families leave the state every year. How many people come and go from this state on a daily basis. It has always been a transient state. But that is not what is causing the spikes in real estate prices it is the investors who saw how much money rental units make and then there were the buyers who bought from builders at pre-construction prices and then turned around and resold for a tidy profit. And builders are still building as the add that was quoted shows. The builders have not slowed down and the inventory of houses is tremendous. A few years ago you could not find a decent resale home because the Hurricanes tore everything up. So the sellers were able to be very greedy. There is a lot of Gentrification going on this the city too. The original poster maybe is unaware or this there are so many different areas of this town and sometimes you find mansions right next to tiny bungalows. Not like in Chicago but more a florida type of style. Reaseard the area because the average price of a starting home is around 200k and probably will not go down anytime soon.
The part about the homebuilders ad saying that 1200 people are moving to Orlando just seems like such a slanted source that I wondered how we could really take that information without an entire shaker full of salt .....
Again, sorry about the misunderstanding.
No issue here--I too am responsible for our misunderstanding, and thanks for your message. I agree with you. After I saw the ad and then saw on a Florida Real Estate blog that people were actually moving to Central Florida at the rate of 1200 a day, which I did question, I tried a few days ago to call the HBA to determine where they got their information. You don't get to talk to a real person--you leave a message, and haven't heard back yet. I also called the Chamber of Commerce to see if that was true, but nobody knows, so I also had to leave a message. I can only surmise that the average is 1200a month, the majority of which comes immediately after Bike Week since the ad says they are moving to "Central Florida," which can be anywhere from Daytona Beach to Tampa and everywhere in between.
I'm not a realtor, although have realtor buddies who are chewing their nails. I stay at home and homeschool my son due to problems we had with his school, and clean offices at night. Up until last year, I was a paralegal. As soon as I hear from the HBA, I'll let you know that info.
For sur ethe price is high but go and live in Europe for 500.000 $ you have a 900 sq ft , with dog **** in your hall , music and noise all the day , no air conditionned and your neighbourhood want to shut up the mouth to your kids , and you have to close them in the closet to dn't walk on the ground and make noise........[/quote]
I am from Berlin-Germany and you might be right that homes are very expensive but there are many reasons for it. Banks don't give money do everyone , most people don't have credit cards because we like to pay with cash , I never had debts. Do you ? Space is limited , Germany has the size of Montana and if you don't know how to get your kids under control well, call Nanny 911. We don't need air condition. You just need to open a window. Europe is not FL. I used to live in a great 4 bedroom apartment under the roof with all the latest appliances (Bosch, Siemens etc.), Laminate flooring and I paid $600 per month. Maybe we have to live with dog**** but everyone has health care. We all have different experience and we all feel different about things. What you never had you won't miss. Have a great day.
Sounds like you're very happy to be living in Germany. How nice!
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More info FYI
since the ad says they are moving to "Central Florida," which can be anywhere from Daytona Beach to Tampa and everywhere in between.
Where in Europe ?
