lazygood4nothinbum
Thinks s/he gets paid by the post
- Joined
- Feb 27, 2006
- Messages
- 3,895
been a rough three years. south florida housing market pretty much crashed with our hurricanes of 2005. the last one, wilma, knocked lights out to more than 3 million households for a couple of weeks and when they came back on the housing market was pretty much gone like it snuck away in the dark.
all the news since then has been pretty bad. needless to say, having two houses here, i've been scouring the news for any sign of bottom. only lately has there been, um, speculation. it's all i got to flaunt so i'm going with it. there's been a trickle over the last few weeks. talk of florida being first to crash & that it crashed so hard that it should maybe be first to recover, that tempered with the idea that we can't recover until the rest of the country does because they buy our houses. and now, of course, if only banks had money to loan.
anyway, hoping i'm not looking at just a false bottom. and certainly the condo market will likely continue to hurt. yup, a rough three years. i guess only time will tell.
it looks like you're near bottom in florida when....
when new york city finally loses ground:
Signs-of-Softness-Appear-in-Manhattan-Real-Estate: Personal Finance News from Yahoo! Finance
when cramer stops screaming:
Cramer: Florida's Good News - TheStreet.com
when vultures come to the rescue:
Real estate firm eyes $1B investment in Florida - 06/17/2008 - MiamiHerald.com
ok, so, maybe i don't have enough money to qualify for their projected 20% annual gains. but hey, they're getting ready to invest a billion bucks. their economists must be seeing something. could it be bottom?
all the news since then has been pretty bad. needless to say, having two houses here, i've been scouring the news for any sign of bottom. only lately has there been, um, speculation. it's all i got to flaunt so i'm going with it. there's been a trickle over the last few weeks. talk of florida being first to crash & that it crashed so hard that it should maybe be first to recover, that tempered with the idea that we can't recover until the rest of the country does because they buy our houses. and now, of course, if only banks had money to loan.
anyway, hoping i'm not looking at just a false bottom. and certainly the condo market will likely continue to hurt. yup, a rough three years. i guess only time will tell.
it looks like you're near bottom in florida when....
when new york city finally loses ground:
Signs-of-Softness-Appear-in-Manhattan-Real-Estate: Personal Finance News from Yahoo! Finance
Signs of cracks in Manhattan's property market could mean the rest of the country is on the road to recovery, since New York tends to feel the effects of a slowing economy later than the nation does.
when cramer stops screaming:
Cramer: Florida's Good News - TheStreet.com
...Florida could signal a turn in the rest of the country...It is a good sign that things are getting better in one of the worst parts of the economy.
when vultures come to the rescue:
Real estate firm eyes $1B investment in Florida - 06/17/2008 - MiamiHerald.com
Strategic Real Estate Advisors, the asset manager that invested in London's Heron Tower development, plans to raise $1 billion to buy luxury homes in Florida that were repossessed by banks....''We're in no rush,'' Rolin said. He estimated that average prices of luxury homes are about $500 a square foot, down from a peak of more than $1,000 for some developments, and will fall further...The fund sees an annual internal rate of return of more than 20 percent.
ok, so, maybe i don't have enough money to qualify for their projected 20% annual gains. but hey, they're getting ready to invest a billion bucks. their economists must be seeing something. could it be bottom?