When the economy improves, so do housing markets. According to Chief Economist at Fannie Mae the increase in wages (of around 4 percent year over year compared) will help Florida’s housing. Usually such an increase following a recession is half of that. But if these numbers continue there will be an increase in consumer spending which will have the domino affect onto housing. The drop in gas prices is helping prospective homebuyers who are also taking the opportunity to build up their savings account, providing 2016 with real potential vis-à-vis finances.
Perhaps therefore it is not all that surprising that Coldwell Banker found that South Florida is number 2 in America vis-à-vis very expensive homes. New York – that came in at Number 1 – was significantly higher 5, 272 but Miami at Number 2 boasted 1,144 luxurious homes and Miami Beach, Fort Lauderdale, Boca Raton and North Miami Beach were all in the top 20.
Further at the end of last month at a conference sponsored by the Greater Palm Bay Chamber of Commerce, the main theme was: “the economy is back, and there is growth in the corporate sector, in retailing and in housing.”
Long may it continue in Florida and throughout the nation.