From Red Hot To Deep-Space Cold In Florida

[Crewleader]

January 19, 2008

The News Press reports from Florida. “Up and down this two-mile palm-lined piece of paradise - also known as Bonita Beach -nearly 100 homes and condos are for sale at pocketbook-pleasing prices. 21 percent of the single-family beachfront homes in this southernmost corner of Lee County are for sale. And most are priced significantly lower than what owners were asking a year ago.”

“‘That’s a lot … the prices have definitely softened,’ said broker Susan Bellina. ‘The condos sold in 2007 sold for less than they did in 2005.’”

“In 2005, one two-bedroom, two-bathroom condo in Casa Bonita facing the Gulf sold for $840,000. Last year, a similar unit sold for $450,000, Bellina said.”

“‘In 2005, we were all crazy. There was a waiting list to buy. People were outbidding each other, and almost as soon as you’d put out a sign, the property was sold,’ she said. Then the bottom fell out.”

http://thehousingbubbleblog.com/?p=4037

[Eurobabe]

1. Sucker born every minute

B-U-B-B-L-E much?

[Crewleader]

2. Is Florida housing a bubble? One economist says no...

Sept. 9, 2005

http://www.businessweek.com/the_thread/hotproperty/archives/2005/09/is_florida_hous.html

[Eurobabe]

3. From 2005? That's old as dirt.

[Crewleader]

4. 2005 was the peak of the bubble here in Florida is my opinion

and it is interesting to show the article of then to now along with the comments.
This post was for all to read not just directed at you. :-)

[Eurobabe]

5. I sold new construction in OH from 2/05-5/06

Our market started to collapse in 9/05, so perhaps the article might be correct. (in fairness to you, I did not read it until now, just saw the date)

Housing has been on a long slow slide since then, pretty much all over the US. We were going to buy a house in VA (central) but when we took a look at the prices and the inventory, we decided to just wait this out, at least for this year...

No hurry, the euro is holding steady in the mid 1.40s

:)