Dismal Outlook

[Beachlover2]

From the Destin Log




Dismal outlook on Florida housing



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July 17, 2007
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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.

 

[Atlanta Bo]

Oh !!!! Thats just GREAT !!!!!

 

[SHELLY]

I heard the Destin Log is going to lead with the Kennedy Assassination tomorrow.




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[Smiling JOe]

When the market does turn upward, it will not be known until after the fact. Likely, it will not be recognized until several months after the fact. With the typical transaction taking 30 days at a minimum to close, the contracts will be written long before the public is aware that the market has turned. ;-)

 

[SHELLY]

When the market does turn upward, it will not be known until after the fact. Likely, it will not be recognized until several months after the fact. With the typical transaction taking 30 days at a minimum to close, the contracts will be written long before the public is aware that the market has turned. ;-)

A leading indicator would be declining attendance at the Realtors? Prayer Service. ;-)


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[Smiling JOe]

A leading indicator would be declining attendance at the Realtors? Prayer Service. ;-)


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How often does this prayer circle meet? Did you attend the last one?

 

[Kurt]

Most national experts don't even think about the panhandle when they talk about Florida. Even officials in our own state have left us off the map at times.

BTW - the bottom is at 03:11 hours on 12/16/07.

 

[SHELLY]

How often does this prayer circle meet? Did you attend the last one?

Unfortunately, I didn't attend the meeting...my people must have misplaced the invitation.

Don't know the schedule...the article stated:

"It was the first of what the organizers — co-owner of Crye Leike Coastal Realty Wanda Duke, former Destin City Councilman Mel Ponder and Destiny Worship Center Pastor Steve Vaggalis — hope will become a regular, uplifting event."

Suggest you contact Wanda, Mel or Steve if you're interested in attending the next one.


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[Smiling JOe]

Suggest you contact Wanda, Mel or Steve if you're interested in attending the next one.

I think I'll pass on that one. I don't need a group of Realtors and a Church in order to pray. ;-)

 

[6thGen]

Most national experts don't even think about the panhandle when they talk about Florida. Even officials in our own state have left us off the map at times.

I've heard many say that the Panhandle is ground zero, due to the lack of job growth and percentage of speculators. It's thrown in there with Miami Beach proper, Naples, and other second home spots.