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Matt J

SWGB
May 9, 2007
24,644
9,496
At least they used a better picture. I'd be embarassed if I lived in Port Saint Lucie:

[31]-port-st.-lucie.jpg
 

SHELLY

SoWal Insider
Jun 13, 2005
5,770
802
From the article:

Worst Housing Markets
No. 18
Fort Walton Beach-Crestview-Destin, Fla.

Population: 180,291

Median home price: $210,000*

One-year change: –6.63%
Five-year change: 86.89%

I am wondering how an area reported to be No. 18 on the Worst Housing Markets, has a five year return of 86.89%. Most people would call that kind of return, "great."

On the other hand....did the area wages go up 86.89% in five years? Housing prices are usually a function of local wages. Maybe they see that as an indication of how far the market needs to correct as it reverts to the mean.




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00seer00

Beach Lover
Oct 12, 2006
112
3
PCB
On the other hand....did the area wages go up 86.89% in five years? Housing prices are usually a function of local wages. Maybe they see that as an indication of how far the market needs to correct as it reverts to the mean.




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Nice Negative spin Mr. Shelly. (Housing prices are usually a function of the local wages) the key word is usually. Most of the appreciation comes from being one of the most beautiful places in the good old USA. I don?t think the wages are the best indicator to use.
 

Smiling JOe

SoWal Expert
Nov 18, 2004
31,648
1,773
Nice Negative spin Mr. Shelly. (Housing prices are usually a function of the local wages) the key word is usually. Most of the appreciation comes from being one of the most beautiful places in the good old USA. I don’t think the wages are the best indicator to use.
Especially in a tourist market. Nice try Shelly, but SoWal isn't a typical town where wages affect housing prices. With average household income in WalCo being around $44K per year, I'm guessing you think the avg home price in our area will be $135K.
 
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Hop

Beach Fanatic
Oct 1, 2006
2,230
182
50
Dune Allen
www.myspace.com
you can't always be # 1.....:dunno:....;-)
 

Bob

SoWal Insider
Nov 16, 2004
10,364
1,391
O'Wal
At least they used a better picture. I'd be embarassed if I lived in Port Saint Lucie:

[31]-port-st.-lucie.jpg

His forward press is good...weight on the left side.....no black socks,....good, hope he's on the practice green because he's not away,........needs to cut back on the waffle fries at Chick-Fil-A.
 

SHELLY

SoWal Insider
Jun 13, 2005
5,770
802
Nice Negative spin Mr. Shelly. (Housing prices are usually a function of the local wages) the key word is usually. Most of the appreciation comes from being one of the most beautiful places in the good old USA. I don’t think the wages are the best indicator to use.

Most of the appreciation came from "investulating" and were a function of "Don't Ask, Don't Tell" loans.




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SHELLY

SoWal Insider
Jun 13, 2005
5,770
802
Especially in a tourist market. Nice try Shelly, but SoWal isn't a typical town where wages affect housing prices. With average household income in WalCo being around $44K per year, I'm guessing you think the avg home price in our area will be $135K.

Stats in the article came from Ft Walton & Crestview--where selling/marketing/building real estate is no longer the industry that it had been over the past couple of years.


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Smiling JOe

SoWal Expert
Nov 18, 2004
31,648
1,773
Stats in the article came from Ft Walton & Crestview--where selling/marketing/building real estate is no longer the industry that it had been over the past couple of years.


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If you want to get technical, Destin was also included, according to the article. Still, I ask the question, what is wrong with 80%+ returns over five years?
 
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