Builders just can't say no
Stunner from the Florida Association of Realtors convention that ended Sunday in Orlando: Almost two years after the housing boom ended, Florida builders are still force feeding houses and condos into the overstuffed market.
The news comes from Realtor's guest economist Ted Jones, who explained that new home construction permits in Florida are running at an annual clip of about 100,000 this year. That's half what it was in 2005, but Jones thinks it should be much lower.
"We're dramatically overbuilding this state still," he said.
Jones explained that many builders overpaid for land at the top of the market and have little choice but to plow forward, hell or high water.
My take on the issue appeared in a column that ran Sunday in the St. Pete Times.
(Un)Real Estate offers a peek at the housing market usually reserved for insiders. While it focuses on the Tampa Bay area, it won't neglect dipping
into the rest of Florida and beyond. Its goal? Simple: To help you keep a roof over your head without losing your shirt.
RE: "We're dramatically overbuilding this state still,"
Hey Rip Van Winkle, Rise and Shine! Care for some coffee?
Posted by: john | August 30, 2007 at 02:33 PM
Yeah, and then the counties want to impose water restrictions!
Stop allowing more developments and condos, and I'll obey the water restrictions!
Posted by: Dave | September 06, 2007 at 09:33 AM