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Old 19th November 2006, 05:42 PM
bwhhisc bwhhisc is offline
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Re: Is the home market in California and Florida really that bad?

The real estate market was booming for the last 5 years, prices probably doubled in the last three years alone for villas, condos, and homes in some markets, southeast included. Home sales in Florida are tough due to recent years of hurricanes. Not as much demand. Prices for homes have come back down about 20% guesstimate in the last 6 months in Southeast, not sure about California. New home building is insane in our area. A huge boom, probably 75,000 new homes within a 50 miles radius underway.

Some people may be holding off on buying thinking they may slip further. Insurance prices for homes in hurricane affected areas have gone up 100% to 300% depending on type of construction and this is adding to overall costs.

Interest rates for 30 year home loans are still good at 5.75% to 6.95%.
Stock index, NYSE has been hitting around new highs.
Gas prices are back down 30% overall for the moment ($2.15 per gallon average).

Zero hurricanes this year, season is just about over. Whew!
There is (no more than usual) grumbling about the economy.
Politicians are still up to underhanded old tricks, R's & D's alike.

Last edited by bwhhisc; 19th November 2006 at 05:53 PM.. Reason: Automerged Doublepost
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