With all the less-than positive talk about Florida’s housing markets and how expensive real estate is there and the amount of foreclosures etc., hearing a positive spin on things recently from Len Kiefer, Freddie Mac Deputy Chief Economist was most welcome.
“Florida has some of the most improving housing markets in the country, largely a reflection of more borrowers becoming current on their mortgage payments as the local employment picture improves and house prices rebound. Nationally, all MiMi indicators are heading in the right direction for the second consecutive month and improving more than 6 percent from the same time last year.”
Indeed, so far in 2015 growth has been “steady” according to a recent article in The Miami Herald. However, “skyrocketing home prices have locked many buyers out of the housing market.” But even with that, according to Nicholas Nehamas “home prices in South Florida are still going up [and] the price jumps are slowing down [which translates into meaning that] the region’s middle and working class…may see more affordable homes in the market in the next few years.”
Although one never knows. If the latest article in The Inquisitr is correct and Tom Cruise sells his home in Hollywood and buys a different one in Florida, that could impact the housing market for the working and middle class in a different way altogether!