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Old 08-15-2007, 01:30 PM
kar kar started this thread
 
Location: Tampa Bay
179 posts, read 754,089 times
Reputation: 105

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I thought you all would like to read this. As a former resident of the area it makes me very sad.

http://www.nytimes.com/reuters/world...in&oref=slogin
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Old 08-15-2007, 01:39 PM
 
Location: Chesterfield in Beautiful Massachusetts, New England
76 posts, read 174,123 times
Reputation: 21
Default See what I mean???

I have been saying this for the last bunch of posts I put on here... Florida is just not getting any better, it's very discouraging to be here. I have seen so many for sale signs here with "reduced" on most of thm in Cape Coral. It's been like this for ovr a year, it's nothing new... But everyone argues as to how this is a "paradise" ya I think not... Paradise lost as it is becoming, it's not the same old Florida. Hell retirees can't afford to live here anymore, only the wealthy......
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Old 08-15-2007, 02:12 PM
 
458 posts, read 599,138 times
Reputation: 136
This is what the housing bubble bloggers were saying would happen...except they made their predictions 3 years ago.

The main stream media is always years behind major trends.
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Old 08-15-2007, 02:20 PM
 
3,842 posts, read 10,513,819 times
Reputation: 3206
What is sad is that there are families trying to make it in Cape Coral & Fort Myers. There are probably people who have just recently bought there without doing a lot of homework. The area is anything but appealing. I find it sad for those who are there & have to stay there due to circumstances or may even like it there & see the crap hole the area is swiftly turning into.

I saw a report on CNN about 2 months ago stating Fort Myers as having the worst housing slump in the country.

The thing is that this mess is going to effect more than just those in SW FL.
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Old 08-15-2007, 02:24 PM
 
Location: Sunny Naples Florida :)
1,451 posts, read 2,491,224 times
Reputation: 513
perfect example of something people should read if they have disillusioned dreams of what florida is, white beaches, drinks in hand days in the sun.. Yah try more like that article.. thats about right
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Old 08-15-2007, 02:44 PM
 
Location: Orlando Florida
75 posts, read 404,532 times
Reputation: 32
I know of several homes (more than 70) brand new construction and 1900 plus square feet by one builder that you can get for around $85 to $90 per square foot. I built my first house in Orlando 10 years ago for $74 and 1954 square feet. Definitely a good time to buy if you can find someone to rent. I hear time and time again in most posts here that people are choosing to rent so it would stand to reason that might be a decent investment. I can't imagine new home prices going much lower than that but who knows anymore.

Great article...thanks for the info
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Old 08-15-2007, 05:52 PM
 
2,141 posts, read 6,907,594 times
Reputation: 595
Quote:
Originally Posted by TerryRiddle View Post
I know of several homes (more than 70) brand new construction and 1900 plus square feet by one builder that you can get for around $85 to $90 per square foot. I built my first house in Orlando 10 years ago for $74 and 1954 square feet. Definitely a good time to buy if you can find someone to rent. I hear time and time again in most posts here that people are choosing to rent so it would stand to reason that might be a decent investment. I can't imagine new home prices going much lower than that but who knows anymore.

Great article...thanks for the info
The stock market is crashing, homes are crashing, jobs are lost. yeah, this is a great time to spend cash. If its such a great deal why tell everyone! you should be buying up all the so called great time to buy deals. Kool-aid anyone?

Last edited by firemed; 08-15-2007 at 06:22 PM..
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Old 08-15-2007, 08:40 PM
 
2,141 posts, read 6,907,594 times
Reputation: 595
[quote=firemed;1288417]The stock market is crashing, homes are crashing, jobs are lost. yeah, this is a great time to rent
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Old 08-15-2007, 08:52 PM
 
458 posts, read 599,138 times
Reputation: 136
Quote:
Originally Posted by TerryRiddle View Post
I know of several homes (more than 70) brand new construction and 1900 plus square feet by one builder that you can get for around $85 to $90 per square foot. I built my first house in Orlando 10 years ago for $74 and 1954 square feet. Definitely a good time to buy if you can find someone to rent. I hear time and time again in most posts here that people are choosing to rent so it would stand to reason that might be a decent investment. I can't imagine new home prices going much lower than that but who knows anymore.

Great article...thanks for the info
Your logic is reversed. People are choosing to rent because of the mess real estate is in, the risk that it will drop, and because they can choose from tons of cheap rentals.

So you think that is the reason people should buy? Oh well, like they say, fog a mirror and you can become a realtor.
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Old 08-15-2007, 09:02 PM
 
Location: PSL FL
573 posts, read 2,443,178 times
Reputation: 119
ahhh, another disguised RE bubble thread : )
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