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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (26287)3/25/2005 7:07:47 AM
From: MoneyPennyRead Replies (6) of 116063
 
I live in this fantasy land. SW Florida seems to believe that we are immune from any financial difficulty. I have a friend that is positive that real estate values will appreciate 20% a year for the next 10 years as Baby Boomers move to Florida.

I say that if that many people move here, it will be a highly undesirable place to live. I thought the hurricanes that hit last season would dampen this raw enthusiasm. Not so. In Punta Gorda, the hardest hit by hurricanes, people are lining up to buy new development hoping for a 100% appreciation in two years. I think the realtors spike their coffee.

Highrise condo development in the backward Fort Myers is selling out pre-development with about 90% investors/10% actual buyers. I think this is a recipe for disaster and perhaps an opportunity for me to buy a nice penthouse in a few years.

I stand in amazement but I am enjoying the amazing increase in my interior design business. I have never seen anything like it in my long career (37 years).

MP
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