|Maybe you saw the Daily Mail article on a US Housing Crash? Or the Tonight With Trevor McDonald show on people who have relocated to Florida? No matter where you have heard negative publicity about the US Property Market or the US economy doesn’t necessarily mean that your investment in Florida will be effected, it isn’t comparing apples to apples. Would the same reasoning be used to compare a buy-to-let property in Birmingham to a residential house in Billingsgate? Of course it wouldn’t. Here is why things aren’t always as they seem…
This publicity, often doesn’t cover all the facts and unnecessarily turns buyers off of their dream home in Florida. The Daily Mail may talk of price crashes and cracks in the US economy, all that has really occurred is a price correction and slowed price growth. After all this is what has happened in the UK so why not the US? The UK has had its run away Housing Market which has slowed to a comfortable growth rate in single figures in most areas, so the US can have the same. There are of course some exceptions but in the case of Central Florida things are looking up.
Things are still bright and sunny in the Sunshine State, the Floridian economy is booming at is is set to become the third most populous state in the Union. (overtaking New York State which is currently behind Texas with California up front) Florida has good job creation through R&D and High-Tech industries setting up shop right here in Central Florida. It has some of the best Universities and community colleges in the country and has over 300 days of sunshine a year! What other locations can boast all that? After all the Orlando area has 50 million visitors a year and growing.
The Orlando Visitors Bureau lists 207 things to do in the area in 2007 Click here to view it. This list shows how much the area has to offer.
Florida property represents good value for money with good potential for capital growth in the coming years (it has been said that Florida is the California of 10 years ago) coupled with a good Rental Market. After all, Walt Disney World, which supports the local economy by $20 billion and is the areas biggest attraction, is unlikely to go bust.
All in all, now in the present buyers market, where prices in the Orlando area are stable and overall increasing, supply is plentiful, it might just be the best time in years to buy Florida property.
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