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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: shades who wrote (36752)7/23/2005 3:44:22 PM
From: John Vosilla  Read Replies (1) of 110194
 
Hurricanes are good for many that work in the trades. They rellish the cleanup and repair. But the real bottom line is upper class is a smaller part of the total pool. How can that segment grow without another real boom in the economy and stock market at all time highs? Most workers do well if housing continues to boom but younger just into this the past 5-10 years and immigrants are not prepares for the dark side lurking. No creation of jobs in the real economy and no incentive to get educated anymore except in the healthcare field. However, check my post to Long Island Guy and it shows areas like Ft Lauderdale are for now creating much more in the way of jobs than new housing contruction. Shortage of housing for the low to upper middle end but ton of new product for those well off or those who dare to borrow way beyond their means on ARM's and IO loans. too much hispanic influence, hurricanes, longer summers due to global warming, traffic and increasing low end,uneducated mainstream will shift a lot of boomers into other destinations I would guess. Most RE in Florida is currently priced for perfection as are most bubble markets. I'd always ask anyone pumped up today about Florida RE.. "Where were you 5 or 10 years ago that you didn't buy then?" Average of $350-400k for a house is ridiculous for most areas of the country, including anywhere in Florida.
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