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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (471973)4/15/2009 12:07:30 PM
From: tejek  Read Replies (1) of 1576775
 
Lots of chatter about FLA like that below:

"Just heard on CNBC (and read somewhere else recently) that Miami condos are going for $130k, down from $800k. And on the Gulf side (my favorite area of Florida), houses are 1/5th what they were at the recent high. Now, more research is needed and I am not recommending you immediately go speculate in Florida real estate ... but in my view, if you can buy a decent property for $150k or less almost anywhere in America (but particularly an area with good weather and near the beach ... oh and no state income tax), then you have have little to lose. It doesn't mean the property will GAIN value in the near-term ... but when you are talking $100k to $150k or so, it is very unlikely that you can LOSE money in actual dollar terms in my analysis -- so if you would be buying as a primary home (or a vacation home), it would seem low risk to me at this point. Rental property is a possibility too, but that is riskier. And in general, I'm a fan of actual homes vs. condos, and older neighborhoods versus new surburbs (the older neighborhoods in better locations are generally better quality homes and will hold value better than generic suburbs off the interstate) ... areas with good weather (and near water) are kind of a no-brainer (meaning don't necessarily look to scoop up Buffalo real estate) as the "snowbird effect" will continue in the future.
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