PalmBeachPost: Real Estate Market Crises US: Florida - A buyer's market, but too few buyers - by Bob Tenance
Real Estate Market Crises US: Florida - A buyer's market, but too few buyers - by Bob Tenance
in South Florida, it's a genuine buyer's market. In fact, for buyers here, the market has never been better. They've never had lower prices. They've never had more choices. They've almost never had lower mortgage rates. And they've never had as many options as far as neighborhood, town, size, amenities and style. So, where are all the buyers? For one thing, there's the "R" word hanging over the US - recession. Tied in with this slowing economy is the recipe for a perfect storm - rising inflation, up 2.7 percent for core items (exclusive of food and energy) in the last quarter of 2007. This, in turn, gives rise to the specter of the "S" word - stagflation, which occurs when the gross national product drops, but prices still rise. Unemployment is also rising. And the recession - and the layoffs - of the early 2000s are still fresh in our collective memories. People who are worried about keeping their jobs are probably not rushing into the housing market.
Labels: Florida, Real Estate, US Economy
