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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: TH who wrote (19357)4/13/2004 3:48:31 PM
From: MoneyPennyRead Replies (1) of 306849
 
My area, SW Florida, has seen huge increases in prices this past year. Housing prices are up on exisiting housing 30% in the area and building is frenzied. In Cape Coral, there are 34 permits being issued for every 1000 of population.

There are no less than 12 high-rise condominium projects either in construction or permit along the river front in Fort Myers. Many are sold out before construction. I know that at least one of these is close to 90% investor owned. I have yet to meet someone who is planning to live in these. This is speculation that seems crazy to me. Our housing prices are no where like California or even Naples but they are increasing rapidly.

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