Florida Real Estate Market: Busting or Adjusting?

Florida Real Estate Market: Busting or Adjusting?

from Yaerd.org

Real estate “experts” will have their subscribers believe that Florida home prices are plummeting, that investing in Florida real estate will amount to nothing but catastrophe. Many are even referring to this lapse in skyrocketing appreciation rates as a “crash.” But all the factors that contribute to a booming real estate market are still present, leaving no chance for a “Grapes of Wrath” future in store for Florida. Real estate investors have simply stopped looking to Florida because the market’s exorbitant prices are making middle-class investment less attainable.

Recent studies have yielded a more positive view of the appreciation rate decline, uncovering evidence that real estate in Florida will be AFFORDABLE once again. All the elements of a healthy real estate market are already set in place—an increasing job market, an influx of both domestic and international immigration coupled with high fertility rates, declining mortgage interest rates, and a lack of undeveloped land—that make a robust real estate market inevitable.

Now that prices are dropping, Floridians can get a higher quality property for a REASONABLE price and the lower rates will cause more people to take advantage of the abundance of jobs in areas that they would not have been able to afford mere months ago. The state has high potential for lucrative long-term investment as Florida’s growth will incite a gradual home value appreciation without driving out residents with more modest incomes. And many industry professionals see the softening as a positive, a way to cleanse the market of incompetent bandwagon developers and the SPECULATORS and FLIPPERS who were driving market prices to unaffordable highs.