"I think generally banks and developers are more conservative this time around," said Alan Levan, chairman and CEO of BankAtlantic. "Housing developments and condos are presold. There's not the (level of) speculative building that went on years ago."
"Even under the worst-case scenario, banks should do well," Thomas said if the real estate market overheats.
See CR - its all good - nothing to worry about@
But then you read this
palmbeachpost.com
Bob DeRosa, a retired ironworker who rents a small home in Jensen Beach, has been working odd jobs for the past decade to stay active. Now he needs that work to keep up with his bills.
"I have to work, that's how I'm dealing with it," he said of the soaring gasoline and utility prices. "Things are out of control."
Between his part-time job and Social Security, DeRosa, 69, makes about $2,200 a month. That's plenty to get by, he said. But as his gas costs and electric bill have jumped by a third during the past year, he's cut out casual spending and trips.
"I just stay home," DeRosa said.
He doesn't drive his 1994 Ford Tempo as much as he used to. He now buys store labels instead of name brands at the grocery.
"I've found myself cutting back on different things without even realizing it," he said. "I just get my necessities. If I don't really need it, I'll pass." |
