What happened to all real estate tycoons?
It wasn't that long ago when most everybody I knew was speculating on the real estate market: buying condos to flip, investing in handyman's specials, buying a second home for investment. Every dinner party I went to revolved around the same conversation. Not a condo flipper or a particularly good handyperson, I felt left out.
Now the tables are turned. The market is sluggish and no one knows what's going to happen. Many think that prices will go down. Wonder what all those condo flippers are doing these days.
If I had the money, I would spend the next few months buying up on the downside.
Now the tables are turned. The market is sluggish and no one knows what's going to happen. Many think that prices will go down. Wonder what all those condo flippers are doing these days.
If I had the money, I would spend the next few months buying up on the downside.
posted by Ana Veciana-Suarez at 8:31 AM
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2 Comments:
I,m with you on that idea. In fact, I predicted this might happen during the time of hurricane season 04'.
I predicted that people would hold off on migrating to Florida permanently in fear of future storms and would cause a reverse side on the housing inventory brining prices lower. Despite my speculation, people still want to invest in Florida but are HOLDING off because of insurance/taxes increases mainly caused by the same storms.
More and more of these anomalies are around us. Imus’s dismissal and this topic clearly shows how we live in a commerce/market based society where everything revolves around it, no matter what.
Surprisingly, the real estate market is stagnant and in a state of uncertainty. You would think with the population increasing and people wanting to move to coveted South Florida it would be booming. Right now it's a buyers market so get your piece of
South Florida real estate
NOW!
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