wrote in message
ups.com...

JIMinFL wrote:
wrote in message
ups.com...

JIMinFL wrote:
http://www.orlandosentinel.com/busin...ness-headlines

Buyers are attracted to skyrocketing prices like moths to an overly
bright deck light.
Buyers, weirdly enough, want to buy the most overpriced house they
think they can almost afford,
with the expectation that when the house they just paid $1mm for goes
up 40% in a year they will be much better off than if they bought a
$400,000 house. In the current market, you can almost increase the
amount of interest in a property by raising the price.

There might be some truth to that but many buyers in the Florida markets
have been thru that mindset in their younger years when their incomes were
likely growing as exponentially as housing prices. Today, baby boomers are
learning to live within their means and buying houses they can afford. A lot
of times with cash.

Renters, on the other hand, consider housing an expense rather than an
"investment." Renters are not the least impressed with what the
building they are living in is worth this year vs. last, they are
simply hopting to get by with the lowest monthly payment for a
habitable rental house or apartment that meets their needs.

I have to admire you for not being greedy and selling these poor people out.

And precisely because you "can't make a living on wages", the FLA
bubble is going to burst.
Those wage earners who "can't make aliving" will be unable to pay the
rents required to support the mega-expensive new condos and apartments-
even if they wanted to do so.

Nope.
Most people don't come here for employment opportunities. Construction
workers and a few others excepted. It's a different market than up there in
Seattle. I think that's why you are having a difficult time understanding
what's going on here.

Take care,
JIMinFL

On Thu, 22 Sep 2005 20:15:39 +0000, JIMinFL wrote:


Today, baby boomers are
learning to live within their means and buying houses they can afford. A
lot of times with cash.

I'm not sure I agree with that. Personal debt is at an all time high. I
haven't seen an age break-down, but would expect boomers are doing their
share.