Thanks Marcus! This animation provides a very clear explanation of the housing market. It seemed to be made a few months ago before the job market started heading south, so I expect the recovery to take that much longer. The big thing to note is that the price of homes has to be affordable to the people that are looking to purchase them. Gone are the days of equity-rich Californians buying up everything for investments. Today’s buyers are Orlando’s tourism industry workers who have very modest annual incomes. With gas and food prices ever increasing, home prices have to come down A LOT more before the Orlando housing markets starts to recover. -Craigg
Craigg wrote:
Thanks Marcus! This animation provides a very clear explanation of the housing market. It seemed to be made a few months ago before the job market started heading south, so I expect the recovery to take that much longer. The big thing to note is that the price of homes has to be affordable to the people that are looking to purchase them. Gone are the days of equity-rich Californians buying up everything for investments. Today’s buyers are Orlando’s tourism industry workers who have very modest annual incomes. With gas and food prices ever increasing, home prices have to come down A LOT more before the Orlando housing markets starts to recover. -Craigg
Posted 01 Aug 2008 at 12:22 am ¶