I know one thing...Florida is going ...
posted on
Oct 02, 2008 05:03AM
to stick its real-estate problem up the US citizens as&.
Everything here leans on real estate, it's the only real blue color job base that supports a fair pay check ....auto-dealers to any business you can think of...including theme parks....depend on it.
If the blue color worker is not working...the engine dies.
The Florida economy is in dire straights because of an over saturation of real estate development, where there's a cross festering problem of the State Homestead.
Fl. realestate problems were exacerbated not only of sub-prime lending ....but the buyers complete ignorance of how the Fl. HomeStead functions.
The commercial real estate development here is yet another problem, that is worse than the residential problem. They're going to stick you with this issue, because it is the sector that is not preforming with regard to meeting loan obligations.
These properties are not going to appreciate for some time to come and for the moment they are depreciating.
IMO, minium 10 years turn around.
doni
doni