South Walton's Community Website
Beach Like A Local!
Create Account
New posts

Smiling JOe

SoWal Expert
Nov 18, 2004
31,648
1,773
Re: Panama City named on cnnfn.com as #1 place to buy real estate now

Note the last paragraph.

It is interesting to see that Florida has three cities in the top ten cities where to buy now. (Did they say now?):scratch:
 

Walton Native

Beach Lover
Jun 21, 2006
60
0
51
SoWal
Re: Panama City named on cnnfn.com as #1 place to buy real estate now

Also, if you look at the worst places to buy right now there are no cities in Florida listed. Six of the top ten places they state as places not to buy now are in California. I wonder why they veiw pullbacks in prices in the Florida markets noted as opportunities and pullbacks in the California markets noted as just beginningsof a longer downturn?
 

seacliffes

Beach Lover
Oct 23, 2006
139
4
Tangomar
Does anyone have a link that refers to the new airport discussed in this article? I have never heard anything about it.

Thanks

Marty
 

SHELLY

SoWal Insider
Jun 13, 2005
5,775
802
Re: Panama City named on cnnfn.com as #1 place to buy real estate now

The following link is to the article. Curious as to everyone's discussion of this observation by cnnfn.

http://money.cnn.com/popups/2006/biz2/newrules_bestinvest/index.html

Let's see <drags out caculator>
Median price for home in 2006: $223,000 <tick, tick, tick>
Median price for home in 2011: $383,000 <tick, tick, tick>
Percentage Increase over 5 years: <calc> yep...roughly 72%
OR....<tick, tick, calc> a yearly increase of 14.4%!! :roll:

BUT WAIT! Let's check out that INCOME figure:

Per capita income for 2006: $31,000 <tick, tick, tick>
Per capita income for 2011: $40,200 <tick, tick, tick>
Percentage increase over 5 years <calc>...:blink: roughly 30%
OR...<tick, tick, calc> a yearly increase of 6% :dunno:

Does anyone see a problem with this?

Does anyone see a problem with folks who are making $40,200 affording to buy a home costing $383,00?

Neither did the folks that Janet sold overpriced condos to in 2005. What was her sale pitch back then??

(Janet Roan, a Century 21 agent in Panama City, notes that two-bedroom beachfront condos are going for as little as $330,000 - down by more than $100,000 from 2005.)

People who write this tripe need to go out and get a real job...or go back to school and retake Economics 101. And people who invest based on these articles need to have their checkbooks and sharp objects removed from their homes.
 
Last edited:
New posts