Floridians optimistic about housing prices
Aug 9th, 2007 | By Bea Weiss, Real Estate Consultant, Attorney | Category: Blog, Buyer AdviseAccording to a new survey of the University of Florida, 82 % of Floridians expect the values of their homes to rise over the next 5 years.
This may sound like a surprise, but for the UF economists it wasn´t.
“The last time housing prices fell and didn’t recover within five years was during the Great Depression,” said Jonathan Hamilton, a UF economics professor and chairman of the economics department. “Most of the problem in Florida right now is that we’ve had a huge amount of building and lots of speculative buying, and things are now catching up.”
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