What does a bursting real estate bubble mean in Southwest Florida? As property values across the country are stagnating or declining, with statistics that would be the envy of most of the country, a bursting real estate bubble in Southwest Florida means that real estate values only went up 7% over last year. To the extent that real estate values are an indication of economic strength and attractiveness of the area, Ave Maria U's and the Law School's move from the rust belt looks increasingly wise.
Property value increase lowest in a decadePreliminary 2007 taxable property values rose by only about 7 percent from the 2006 total; officials say news not a surprise
June 1, 2007
The bubble has officially burst on the Collier County real estate market. Preliminary 2007 taxable property values increased by only about 7 percent from the 2006 total.
P.S. Meanwhile, real estate values in Ann Arbor dropped by 6.5% over last year.
Thanks for reminding us to keep some perspective. Given the tendency to move to sunny climes, especially as one grows older, it seems rather obvious that despiute the nay-saying, Florida will continue to be one of the best real estate markets in the USA for a long time.
ReplyDelete..for old, wealthy people.
ReplyDeleteBut how are the large faithful Catholic families supposed to afford to live in the most inflated real estate market in America?
Large Catholic families, or (poor) students!
ReplyDeleteAnonymous is right! Everybody knows that the ONLY people living in Florida are the elderly. It is also the elderly that populate the multitude of universities in Florida. They are all rich, too! Everyone in Florida is rich! No room for poor people there! Not only are they rich and aged, they are also really, incredibly dumb. Only a person dumb enough not to know that Florida is unaffordable, underpopulated, and wrought with hurricanes, bugs, alligators, and heat would move their.
ReplyDeleteThe last "their" is supposed to be "there." Thanks.
ReplyDeleteWee're not talking about Florida as a whole, we're talking about Collier county, which is the 41st highest-income county in the entire USA.
ReplyDeletehttp://en.wikipedia.org/wiki/Highest-income_counties_in_the_United_States
The post attempted to paint high property values as a positive feature of AMU's location, anonymous, it seems to me, was merely pointing out that high property values are a good indicator of cost of living, and not a good sign for large Catholic families who may have made their faith a priority over pursuing wealth.
Yeah, and by the way...
ReplyDeletePARADISE?!?!???? It's called "The Promised Land."
The homes at Ave Maria itself - leaving aside the largely irrelevant market in Naples 20 miles + away - range from the lower income condos at Middlebrook (from $170k or so), to Emerson Park (in the mid-$250ks). So I don't get the "it's not affordable" complaint. It is affordable at Ave Maria, compared to virtually any real estate market in the country (except perhaps rural N. Dakota), and that is for new, high quality homes. And guess what, they have hundreds available to choose from. So families are moving there, as it mine, in August, 07.
ReplyDeletetypo - "as is mine"
ReplyDeleteGood point, typo man.
ReplyDeleteThanks for stopping by.
Typo man,
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