3 replies to this topic

[bulldogger]

Here's a link to an article in the Biz Journal...

Orlando Business Journal

[poonther]

How can this be?  I mean we lead in the nation in job growth.  All those high-wage  (not)  jobs being created here, surely these folks could afford to pay their mortgages.............It just baffles me.  

[tampasteve]

Can't say if this is THE reason, but Florida has a HUGE speculative buyers market, that was especially true in the last couple of years in the real estate boom and subsequent correction. I would like to see statistics of speculative foreclosures as well as people that bought on interest only loans and now are having to move into regular loans.

Steve

[HeartofFlorida]

tampasteve, on Oct 10 2006, 03:51 PM, said:

Can't say if this is THE reason, but Florida has a HUGE speculative buyers market, that was especially true in the last couple of years in the real estate boom and subsequent correction. I would like to see statistics of speculative foreclosures as well as people that bought on interest only loans and now are having to move into regular loans.

Steve

The State of Florida is for sale to the highest bidder.  It seems as though housing prices are geared more toward snowbirds and out of staters coming to Florida who bring more money with then than the average Florida resident will earn and the market reflects that trend.

Edited by HeartofFlorida, 07 February 2007 - 08:55 AM.