Florida Boom And Bust Cycle Repeats Itself
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
The St. Petersburg Times writes a great article on how prone Florida is to the boom and bust cycle. Florida with it’s warm weather and beautiful beaches inspires the imagination and dreams of home buyers. But the unbridled optimism of the human spirit rises up every few years plays havoc with the 1920’s economy of our Sunshine State.
For several years the fevered land flipping, home building and road grading transformed the Tampa Bay area. Captivated by the rumors of riches, out-of-staters flocked to Florida for a piece of a sure thing. “Realtor” became a supreme career aspiration. The region’s population doubled.
But just as people were counting their profits toward early retirement, a hurricane pulled the plug on the hyperactivity. Buyers turned cautious. Property could be had for 50 cents on the dollar. Paper fortunes vanished, and banks shuttered. Disillusioned Floridians pined for the hills of North Carolina.
Sound familiar? It’s an outline of the 1920s Florida real estate boom and bust. But historical amnesiacs can be mistaken for assuming it describes the real estate roller coaster that’s recently rocked our region. via the St. Petersburg Times
Read the rest of the article, it is worth it for every real estate professional to see the cycle play out.
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
The part about the inventory is right on but in my area they are mostly low end and beat up ...
I worked for this man, he is a great con man and has done this in more than States then ...
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
ECONOMIC REPORT
'Prolonged' recession, higher joblessness seen likely
NABE survey indicates most economists now believe U.S. recession's started
By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
BY USING FIRST CLAIM INSURANCE ADJUSTERS YOU WILL HAVE THE ABILITY TO LOOK AT YOUR INSURANCE SETTLEMENT AND REALIZE FIRST ...
