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Interesting Article From Over The Pond - Florida Sucks!

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Can't find a date for this article, which is really annoying. I wish Web pages would alsoways include a date. <_<

Edit: Whoops. Found the posting date for the article (today).

This paragraph at the end was interesting:

Finally, a recent edition of The Liscio Report, the economic newsletter, put into perspective how wacko the current climate is. It said that the ratios of (a) stock value to GDP and (B) real-estate value to GDP are both nearly twice their averages from 1952 to 1970. As the report noted: "If mean reversion still has any role in market valuations, then both markets have plenty of room to fall."

Also, can anybody post a live link to the Wall Street article mentioned ("Hot Homes Get Cold"). I don't subscribe. I dislike their editorial page. :angry:

Edited by Yankee

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Can't find a date for this article, which is really annoying. I wish Web pages would alsoways include a date.

Posted 4/24/2006, look above "Contrarian Chronicles"

Bloody yankie date formats ;)

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There is a rush to the exits in Florida. Lead by the Brits who have swallowed the Sales Pitch only to discover that the recent 2001 to 2005 double digit HPI was an anomalie. The majority of Brits that bought out there are not able to cover their operating expenses as the rental market is very competetive and the costs of ownership high and getting higher. Property in Florida is on a crash diet, shedding $ thousands by the week, with few serious buyers (some new estates/subdivisions that are dominated by Brit owners have over 50 villas for sale with none sold for 5 months!). I've never seen a market turn from a sellers to buyers market so quickly (Orlando HPI +34% in 2005 and at least -20% in 2006). Add to this the none recoverable cost of purchase and sale (e.g. about $40k), oh and taxes and thousands are finding their dream an expensive, stressfull nightmare.

Pablo Silver or Lead?

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I am hearing plenty of commercials on Irish radio for "great opportunities to buy property" in the US - Florida, Manhattan, Chicago.....

The first thing I always think is, "Ok. So it's being flogged to the Irish because the Americans are not buying it. And, if the Amercians are not buying it, then why should we?"

One of the ads for New York apartments says that the properties are priced at a substantial discount to those normally on offer in New York. Do they think we are stupid? (that's a rhetorical question) :rolleyes:

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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