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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: ChanceIs who wrote (81595)	7/20/2007 2:41:10 PM
From: John Vosilla	Respond to of 306849

'The oversupply will force prices down as much as 30 percent, the worst decline since the 1970s, and help push Florida's economy into recession as early as October' They are dreaming if the average loss on those high end Miami condos is 30%. 60-70% more likely even if they continue to mint millionaires in S America and the dollar keeps dropping..

To: ChanceIs who wrote (81595)	7/20/2007 3:37:37 PM
From: Elroy Jetson	Respond to of 306849

-- . California's Job Growth Hits the Brakes . -- Employers show a net gain of 400 positions in June after adding 4,800 in April and 16,200 in May. The financial services and construction sectors see the biggest drops in employment. Los Angeles Times -- By Lisa Girion -- July 20, 2007 latimes.com Dragged down by big losses related to the real estate slump, California's employment engine ground to a near standstill in June with a net gain of 400 positions, state figures released today show. By comparison, the state added 16,200 jobs in May and 4,800 in April. As expected, financial activities and construction were the biggest losers among six sectors that posted employment declines in June, according to the Employment Development Department report. Reflecting layoffs by troubled subprime lenders and the big chill in home building, the financial activities sector lost 5,700 jobs, while construction shrank by 5,300. By comparison, the other four declining sectors lost a total of 5,900 jobs. "Slowing state job growth has been primarily caused by the slowdown in residential building and resale activity," said Stephen Levy, senior economist for the Center for the Continuing Study of the California Economy. "A continuation of the slowing will cause problems for this year's and next year's state budget." Despite slow job growth, the state's unemployment rate held steady at 5.2% after rising in May from 5.1% in April. By comparison, the U.S. jobless rate was 4.5% in June, unchanged from May. A steady unemployment rate means the number of jobs is growing at about the same pace as the number of people seeking them. "For the past year the state has matched the national job growth rate, although unemployment has risen here but not in the nation because the state labor force has grown by nearly 300,000," Levy said. Since June 2006, the state's employers have added 204,700 jobs, an increase of 1.4% for a total last month of 15.2 million. Sectors gaining jobs were led again by the educational and health services category at 8,600 jobs. Government employers added 4,600 jobs, while the leisure and hospitality sector hired on 3,300 workers. Other services added 600 jobs, and professional and business services added 200. .

To: ChanceIs who wrote (81595)	7/20/2007 3:59:00 PM
From: jrhana	Read Replies (1) \| Respond to of 306849

The change in the Miami skyline in just a year or two is absolutely unbelievably mind-boggling. The crane is indeed the state bird in Miami. It's hard to feel sorry for any condo flipper who gets caught with a property he can't unload. I do hope to have the finances in place and the right timing and luck to pick up a condo in a few years with a spectacular view on Brickell Key and at fire sell prices. Maybe Grace will fly down to help me evaluate the construction quality. <g>