Developers put Projects up for Sale http://southflorida.bizjournals.com...09/04/story2.html?page=5&b=1157342400^1337885 The Trump Tower in Tampa is visible from my balcony and there has been very little activity since January. The local press has been reporting that the developer is having trouble obtaining financing ... but of course, it will get built. I would hate to have put down the 20% non-refundable deposit on one of those units. Prices start at $750K and go up into the millions. From what I can ascertain, most of the proposed new high-rises in Tampa will definitely not get built. Regards, Slave2Market
nice articles.... Ryland offering great deals because they know whats going on. Not looking good for the housing market. Recession 2007.
http://today.reuters.com/news/artic...DST_0_ECONOMY-LAYOFFS-CHALLENGER-UPDATE-1.XML NEW YORK, Sept 5 (Reuters) - Planned U.S. layoffs surged 76 percent in August compared with the previous month amid signs that a slowdown in housing was starting to have an impact on employment, an independent report showed on Tuesday.
Table: American Housing Horror Show: Twice As Many Units Built Than the Demand! End of 2001 End of 2006Q2 Net Change, 4.5 Years Housing Stock 119,116,000 125,800,000 6,684,000 Total Occupied 106,261,000 109,450,000 3,189,000 Excess Built 3,495,000 Total Vacant Year Round 9,777,000 12,376,000 2,599,000 http://safehaven.com/article-5841.htm Wow. That's scary, particularly with all the homes still in the pipeline. Forget about any price appreciation in the next 2-3 years after things settle down and the market finds a bottom.
http://www.sun-sentinel.com/news/lo...ay06sep06,0,6276752.story?coll=sfla-news-palm âFor the first time in 35 years, Palm Beach County public schools started class with fewer students than the previous year. District officials anticipated a small decline this year, with hurricanes and high housing costs driving residents out of the county. But actual enrollment was about 2,200 students below even those projections.â Officials say housing costs may be the biggest factor in the decline." thats just few "families" cashing out in ghettos, up to $500k cash is a hell of an incentive to move somewhere else.
In fairness, I believe Broward had too many students for that year, so the picture there is somewhat misleading. There are still massive influxes of people into florida - still jobs down here.
i dont know about broward schools, but Florida Atlantic University is booming in Boca, I'm not sure if the cooperation with the SCripps institute has a lot to do with it, but it seems that a lot of state $$ is going there.
From National Association of Realtors Leadership summit, Aug 17-18. http://www.realtor.org/Research.nsf...ppt/$FILE/Leadership Summit (August 2006).ppt Wonder what presentation we're in for come November's NARdi Gras
Sure is. I drove past FAU a few weeks back and couldn't believe the size. There's no shortage of people moving into Florida. Although one hears non-stop about the tremendous new construction situation in Miami-Dade, there's really not a lot of new building in Broward and PBC. If anything, OTHER than Miami it seems there's a bit of anti-development backlash occurring from local governments. In Lauderdale one hi-rise after another has been shot down on zoning isues.......
isnt Broward on "Cops" alot? i talked to a Realtor buddy in southern WA. he said it is dead. he is selling one of his many home (investments)