Housing Rolling Along 2

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.:D

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
 
Quote from onewaypockets:

http://www.tbo.com/pasco/MGBT3IMBLRE.html?imw=Y
The full-page advertisement in the Gulf Harbors Civic Association's newsletter was a desperate plea to homeowners.

"WHY IS EVERYONE SELLING?

MORE HOMES FOR SALE MEAN LOWER PRICES!

STOP SELLING!"


http://www.sun-sentinel.com/news/lo...ay06sep06,0,6276752.story?coll=sfla-news-palm
“For 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.” Officials say housing costs may be the biggest factor in the decline."


http://www.courant.com/news/local/hc-rgreen0905.artsep05,0,102412.column?coll=hc-utility-local
‘The two burning questions at this moment are why are so many people trying to sell and why aren’t there more buyers?’ said (realtor) Michael Tetreau in Fairfield. ‘The problem is, following the baby-boom bubble, there is no bubble. There just aren’t as many buyers,’ said Tetreau. ‘I don’t see anything on the horizon that is going to change. We have two times as much inventory compared to a year ago. There certainly are some danger signs. It is possible that things will go down a lot,’ said John Clapp, a business professor at the University of Connecticut."


http://www.marketwatch.com/News/Sto...FA59D25-BAC5-4A7F-A2E2-CFE209A87A48}&keyword=
‘These data are a strong indication that the housing market is cooling in a very significant way,’ said James Lockhart, OFHEO director. ‘Indeed, the deceleration appears in almost every region of the country. It’s the fastest deceleration in the index in its three-decade history, OFHEO said.’ "




How would you have liked to buy a Ryland home in this neighborhood in the last year or so....owners are screwed, comps are trashed. I don't think everyone is "sharing the joy" as their ad says...OWP

ryland.jpg
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nice articles....

Ryland offering great deals because they know whats going on. Not looking good for the housing market. Recession 2007.
 
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
“For 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.” 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.
 
Quote from Copernicus:

http://www.sun-sentinel.com/news/lo...ay06sep06,0,6276752.story?coll=sfla-news-palm
“For 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.” 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.
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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.
 
Quote from drsteph:

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.
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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.
 
Quote from Copernicus:

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.
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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.......
 
Quote from Pabst:

Sure is. I drove past FAU a few weeks back and couldn't believe the size.

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.......
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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)
 
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