Bubble? Meltdown? Nah! Keep buying - full steam ahead!
I love the local media and REIC reports that do mention the bubble bursting - but never in that area - it's "those other people"
No, it's not. Here's a hilarious report today from the melting-down Florida market:
Statewide existing-home median sales prices have increased nearly 100 percent over the last five years, according to the Florida Association of Realtors, rising from $127,400 in 2001 to $254,800 this year.
The Jacksonville metropolitan statistical area continues to be ranked high in housing, despite the recent “doom and gloom media reports” to the contrary, according to Mark Carlson, mortgage banker and branch manger of Wells Fargo Home Mortgage.
“We’re not seeing it,” said Carlson. “We’re not living in a bubble here.”
Northeast Florida Builders Association Executive Director Daniel Davis agrees.
“What we’re seeing in other areas in the state — where there was a large amount of condo construction and high volume of investors flooding the market and there’s a ton of inventory — is not healthy for the new construction market,” said Davis, who is also City Council vice president. “In Jacksonville our numbers are much better as far as inventory and investors that are backing out of the market. The quality of life here, the availability of housing and the jobs we are creating are bar none.
“We are insulated from all the other problems that you might see across the nation and across the state where they’re relying on one industry, or they don’t have the natural resources that we have that attract homebuyers.”