Lawrence Yun, senior economist for the National Association of Realtors and David Lereah's successor, spoke recently at the Greater Tampa Association of Realtors. Despite this year's hiousing bubble, he pointed out that rising incomes and decklining home prices should have stimulated sales here. Yun felt the true measure of affordability is the mortgage obligation relative to income - and showed the Tampa-St Petersburg-Clearwater area at about the national average. He saw nothing alarming in this aream, and a very manageable market. He not only pointed out speculators leaving the market, strong job creation and baby boomers buying second homes as positive influences on the market, he predicted that if our legislators solved the insurance and property taxes that our area would not just boom, but be a "sonic boom".
Too bad consumers weren't invited to his talk as well.
Hi Sharon,
That is a great post with a positive outlook. Thank you for letting me know.
Jack