Dismal Outlook

Beach Fanatic

Jul 19, '07 · 12:21 PM6,348

From the Destin Log

Dismal outlook on Florida housing

--------------------------------------------------------------------------------
July 17, 2007
--------------------------------------------------------------------------------

No Quick Comeback Seen for Housing

Noted economist Mark Zandi of Moody's Economy.com provided a sobering look at the Florida housing market last week as he addressed the Leaders Advantage program at the Southeast Building Conference (SEBC) in Orlando.
Zandi predicted the housing market is not likely to fully recover until 2010.
"The downturn actually started in June, 2005 so it?s two years old," said Zandi. "We think the cycle continues on a downward path in 2008 with 2009 as a stabilizing year and 2010 as a return to normal activity."
Zandi added that housing will not find its "bottom" until there is some significant combination of reduced production and price cuts.
"The worst of the decline is over but we're a long way from recovery," said Zandi.
The program was sponsored by Countrywide Home Loans and attracted 130 participants. Governor Charlie Crist keynoted the event and vowed continued work with the Legislature on Florida's serious problems of high property taxes and insurance.

Replies

Beach Fanatic

Jul 21, '07 · 12:05 AM#27

:shock:

I can't believe I actually made a post like this. Feels good!;-)

needs to get out more

Jul 21, '07 · 7:28 AM#28

could this be what your public trust doctrine link was supposed to go to?

Beach Lover

Jul 21, '07 · 9:01 AM#29

Actually 6th, it IS the best time to buy

There is NO doubt our market is down. With the spike in prices we experience in 2004, the market had to stabilize. No way could have continued on that path. Will we ever get to that stage again? I certainly hope not.

Real Estate is cyclical- the good thing about being on the down side is we know there is going to be an upside. We've been down for a while so nowhere to go but UP

Admin

Jul 21, '07 · 9:11 AM#30

Actually 6th, it IS the best time to buy

There is NO doubt our market is down. With the spike in prices we experience in 2004, the market had to stabilize. No way could have continued on that path. Will we ever get to that stage again? I certainly hope not.

Real Estate is cyclical- the good thing about being on the down side is we know there is going to be an upside. We've been down for a while so nowhere to go but UP

There may still be room to go downward but much success can be had buying on the way down and the way up if you are able. For many investors buying at the nadir is not, and should not, be the primary goal.

SoWal Expert

Jul 21, '07 · 1:01 PM#31

When you begin reading it in the news, the time is often too late.

Beach Lover

Jul 21, '07 · 11:17 PM#32

NADIR???????????

WTF!!!!!! Can you please speak English???

Buyin at the NADIR (oh my God) means buying at the bottom.......

us rednecks around here hate this bs kind of language and it sounds like some confused yankeetalk ................

I suggest this buying at the NADIR is what its all about , it seperates us men from you innocent little boys.