"thunder" wrote in message
...
On Sun, 18 Sep 2005 18:07:34 +0000, NOYB wrote:


I figure that once the NE slows, we'll soon follow. They'll be a
slowdown, but never a correction. There are too many baby boomers
looking to retire down here. The SW coast of Florida used to be mostly
midwesterners. But the housing prices in the midwest aren't keeping pace
with the prices down here. So we're seeing more buyers from the NE, the
West, and overseas.

You bought your house for the right reasons, as a place to live and
additionally, long term. I don't see you at risk, long term, but geez,
"never a correction." All the warning signs are there.

I agree. But I don't think prices will "correct". They'll plateau and
stagnate, but not fall significantly. Demand is increasing exponentially
with the baby boom population retiring.


I read somewhere
that speculators are a third of your market.

I've read up to 40% in some areas like Punta Gorda. It's much, much lower
in Naples.

You have people in the
industry openly denying the bubble will burst. Guy, remember "bust" is
part of the "boom and bust" cycle. It ain't an "if", it's a "when".

I agree with you. I see the market cooling, but I just don't believe that
you'll see significant price corrections.

Naples/Marco saw over a 35% price increase in the 2nd quarter alone (4
months!)...putting it #1 in the country in appreciation for that quarter.

My brother looked at a villa yesterday that the seller closed on in July
2005. She bought it pre-construction in 2004, so the price was locked in.
Regardless, in July, it closed for $209,900. My brother was too late
yesterday. It sold for $350,000. Two months and $140k profit. And she had
two offers on it already.