18th out of 20 at Businessweek

[Matt J]

At least they used a better picture. I'd be embarassed if I lived in Port Saint Lucie:

 

[SHELLY]

From the article:

Worst Housing Markets
No. 18
Fort Walton Beach-Crestview-Destin, Fla.

Population: 180,291

Median home price: $210,000*

One-year change: –6.63%
Five-year change: 86.89%

I am wondering how an area reported to be No. 18 on the Worst Housing Markets, has a five year return of 86.89%. Most people would call that kind of return, "great."

On the other hand....did the area wages go up 86.89% in five years? Housing prices are usually a function of local wages. Maybe they see that as an indication of how far the market needs to correct as it reverts to the mean.




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[00seer00]

On the other hand....did the area wages go up 86.89% in five years? Housing prices are usually a function of local wages. Maybe they see that as an indication of how far the market needs to correct as it reverts to the mean.




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Nice Negative spin Mr. Shelly. (Housing prices are usually a function of the local wages) the key word is usually. Most of the appreciation comes from being one of the most beautiful places in the good old USA. I don?t think the wages are the best indicator to use.

 

[Smiling JOe]

Nice Negative spin Mr. Shelly. (Housing prices are usually a function of the local wages) the key word is usually. Most of the appreciation comes from being one of the most beautiful places in the good old USA. I don’t think the wages are the best indicator to use.

Especially in a tourist market. Nice try Shelly, but SoWal isn't a typical town where wages affect housing prices. With average household income in WalCo being around $44K per year, I'm guessing you think the avg home price in our area will be $135K.

 

[Bobby J]

Especially in a tourist market. Nice try Shelly, but SoWal isn't a typical town where wages affect housing prices. With average household income in WalCo being around $44K per year, I'm guessing you think the avg home price in our area will be $135K.

I'll take two....

 

[Hop]

you can't always be # 1.........;-)

 

[Bob]

At least they used a better picture. I'd be embarassed if I lived in Port Saint Lucie:

His forward press is good...weight on the left side.....no black socks,....good, hope he's on the practice green because he's not away,........needs to cut back on the waffle fries at Chick-Fil-A.

 

[SHELLY]

Nice Negative spin Mr. Shelly. (Housing prices are usually a function of the local wages) the key word is usually. Most of the appreciation comes from being one of the most beautiful places in the good old USA. I don’t think the wages are the best indicator to use.

Most of the appreciation came from "investulating" and were a function of "Don't Ask, Don't Tell" loans.




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[SHELLY]

Especially in a tourist market. Nice try Shelly, but SoWal isn't a typical town where wages affect housing prices. With average household income in WalCo being around $44K per year, I'm guessing you think the avg home price in our area will be $135K.

Stats in the article came from Ft Walton & Crestview--where selling/marketing/building real estate is no longer the industry that it had been over the past couple of years.


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[Smiling JOe]

Stats in the article came from Ft Walton & Crestview--where selling/marketing/building real estate is no longer the industry that it had been over the past couple of years.


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If you want to get technical, Destin was also included, according to the article. Still, I ask the question, what is wrong with 80%+ returns over five years?