"Picking up"

Govm't sez we reached record homeownership of 69.2% in 2004 (down to 69% in 2005)--and that was accomplished when interest rates were lower and houses were "cheap" compared to later boom prices.

Now interest rates are higher; inventory levels are at a 9-year high; housing prices are WAY above affordability levels for the majority of lower- to middle- class wage earners; wages have not kept up with inflation in the the past several years; insurance, gas, medical and taxes are on the rise; and with savings rates below zero, few have put enough money away for retirement...who is going to buy up these thousands of Florida condos as "end users?"

It's going to be a shame when a lot of precious energy is going to be wasted in lighting, cooling and pool filtering rows of mostly-empty condo lining the coasts of Florida.

I am more concerned with and thinking about the South Walton market, which does have quite a few smaller condo developments that might sit empty for awhile but not close to what you will see in areas that allow high rises, or Miami for goodness' sake. This is one thing that makes it a unique and desirable community. Another is that the rental policies very much favor short-term rentals, which allows owners to generate income. Yes there are more rental units on the market all the time but it is not out of control ... yet. There is still a demand for good rentals and as a vacation home community, it is tough to beat this area.

Meantime, even Tampa is going to find itself flooded with condos as projects get completed. I agree that much of the state is in a pickle.

I am more concerned with and thinking about the South Walton market, which does have quite a few smaller condo developments that might sit empty for awhile but not close to what you will see in areas that allow high rises, or Miami for goodness' sake. This is one thing that makes it a unique and desirable community. Another is that the rental policies very much favor short-term rentals, which allows owners to generate income. Yes there are more rental units on the market all the time but it is not out of control ... yet. There is still a demand for good rentals and as a vacation home community, it is tough to beat this area.

Meantime, even Tampa is going to find itself flooded with condos as projects get completed. I agree that much of the state is in a pickle.

Maybe all this augurs well for the affordable housing shortage that exists in Florida, or for that matter in South Walton county?😀

Developers continue to send me brochures and pre-construction pricing 'deals' on high rise monstrosities in PCB.

:floor:

There is still a demand for good rentals and as a vacation home community, it is tough to beat this area.

IMO that will keep a "crash" from transpiring, although to Shelly's point, a 20% price drop is probably a crash for an overleveraged speculator. FYI I saw this happen first hand in Las Vegas. CA speculators flooded the market in 03-05, now prices have come down around 20% and rents are lower too as speculators try to rent these out. Only a problem if a) you are a flipper or b) you cant afford the place with std financing.

I am more concerned with and thinking about the South Walton market, which does have quite a few smaller condo developments that might sit empty for awhile but not close to what you will see in areas that allow high rises, or Miami for goodness' sake. This is one thing that makes it a unique and desirable community. Another is that the rental policies very much favor short-term rentals, which allows owners to generate income. Yes there are more rental units on the market all the time but it is not out of control ... yet. There is still a demand for good rentals and as a vacation home community, it is tough to beat this area.

Meantime, even Tampa is going to find itself flooded with condos as projects get completed. I agree that much of the state is in a pickle.

Click on this LINK and then click on any area and price on the left column. This will give you an inkling of the number of condos on the market in this area.

Click on this LINK and then click on any area and price on the left column. This will give you an inkling of the number of condos on the market in this area.

So so sad you are. Wu hopes no one has to live with you. :roll:

My perception is as follows:


The affluent, much like effluent, tend to flow downhill untill they cluster in large pools.

They would prefer to congregate in one common spot. And they will pay dearly for the priviledge to gather there. It would seem your 'spot' has all the ingredients (new construction, stylish developments, clean beaches, low density, small overall population, limited available land etc.) to form one hell of a lake, albeit one which reeks of money.

There seems to be much consternation regarding the high cost of property as compared to surrounding areas. I would propose that this in fact will actually bode well for the future of this place. The snob factor will be your most valuable asset. For the affluent are well insulated against the aforementioned 'economic downturns', 'interest rate hikes', and 'increased insurance rates'.

I suspect these factors will, however, bode ill for the lands to your east and west.

Count ColiFecal, Thanks for getting to the bottom of this topic.

Count ColiFecal, Thanks for getting to the bottom of this topic.

:rolling: :floor: :funn:

My perception is as follows:


They would prefer to congregate in one common spot. And they will pay dearly for the priviledge to gather there.

There seems to be much consternation regarding the high cost of property as compared to surrounding areas. I would propose that this in fact will actually bode well for the future of this place. The snob factor will be your most valuable asset. For the affluent are well insulated against the aforementioned 'economic downturns', 'interest rate hikes', and 'increased insurance rates'.

I suspect these factors will, however, bode ill for the lands to your east and west.

You mean like Aspen CO?

2 more contracts!!!! It is getting busy! :clap_1: All end users. Investors are still shy but the end users are looking and buying. There are also alot of pendings on the MLS this week!

2 more contracts!!!! It is getting busy! :clap_1: All end users. Investors are still shy but the end users are looking and buying. There are also alot of pendings on the MLS this week!

Excellent news Bobby! :clap_1:

Seeing lots of activity right now in Ariel Dunes tower 1. Orig contract holders are closing plus several of them have successfully assigned their contracts. What a view:

________________________________________________

From goofer's link:
Sales have slowed and more houses are sitting on the market, according to Nicholas J. Marotta, president of the Ocean City Board of Realtors.

He blames speculators for rapidly inflating and then depressing the market by trading in condominiums and oceanfront homes that they bought with low-interest loans requiring only small down payments.

From goofer's link:
Sales have slowed and more houses are sitting on the market, according to Nicholas J. Marotta, president of the Ocean City Board of Realtors.

He blames speculators for rapidly inflating and then depressing the market by trading in condominiums and oceanfront homes that they bought with low-interest loans requiring only small down payments.

I certainly hope this NYT "reporter" didn't quit his day-job. :cool:

I certainly hope this NYT "reporter" his quit their day-job. :cool:

;-)