Carl leason

Housing Bubble and Real Estate Market Tracker

Most of the article is old news. What we are all hoping to see is some hard facts about what will get the housing market moving again.
In Florida, where I am an Active Realtor, 26th year,..there is no sign of a recovery, and in fact, sales are taking longer than ever in spite of ever lower prices ! On Clearwater Beach alone, there are approx. 1,000 homes /condos, for sale and last months sales were 30 units ! It will take forever to absorb that much inventory ! In spite of that, some builders are still building,..( doesn't make much sense, does it ? ), but then again, who ever said that builders or Banks were smart ..? In the Tampa Bay area, even Don Trump is having a hard time getting a development off the ground,.. for lack of financing. He likes to put his name on buildings, but not any cash.
Lower interest rates will definitely not solve the problem as R.E,Taxes kill most sales ! Politians love to tax people but hate to reduce taxes, thus a tremendous glut of homes in the entire state of Florida ! No one, I repeat, NO ONE can predict with any degree of acuracy, when there will be a recovery, even though prices on resales are getting lower every day ! Those who put money down on new condos, before they were even finished, are now walking away from them ! Think a half point drop in interest rates is going to cure this situation ? I think not ! LC