TravelTime
TUG Member
- Joined
- Mar 20, 2018
- Messages
- 8,093
- Reaction score
- 6,460
- Points
- 499
- Location
- California
- Resorts Owned
- All Resale: MVC DPs, Marriott Ko Olina, Marriott Marbella, WKOVR-N, Four Seasons Aviara
The boom/bust real estate cycle is something that is typical in Florida since the 1920s when development really started. All of the early developers who shaped the state in Miami Beach, Coral Gables, St Augustine, the area around Flagler Street which is close to what is now downtown, and other early communities went bankrupt when the boom ended. I recently read the book “Bubble In The Sun.” For anyone interested in the early history of Florida’s development in the 1920s, this is a great book. I grew up in Florida too so I was familiar with the names of the early developers. The boom/bust cycle does not mean this is the end for Florida. The bust will eventually be followed by another boom.
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From The Economist, Oct 1, 2022
Unnatural disaster: A devastating hurricane tests the Sunshine State
Home values will probably now decline. That could stimulate demand. But the storm is more likely to halt in-migration in the short term. For people who had been considering moving to places that Ian has ravaged, “I would think this would give you pause,” says Teri Johnston, the mayor of Key West. The property boom that Florida enjoyed in the 1920s ended when two hurricanes walloped the state. When Ian clears, Mr DeSantis may find that he has to grapple with an economic storm.
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From The Economist, Oct 1, 2022
Unnatural disaster: A devastating hurricane tests the Sunshine State
Home values will probably now decline. That could stimulate demand. But the storm is more likely to halt in-migration in the short term. For people who had been considering moving to places that Ian has ravaged, “I would think this would give you pause,” says Teri Johnston, the mayor of Key West. The property boom that Florida enjoyed in the 1920s ended when two hurricanes walloped the state. When Ian clears, Mr DeSantis may find that he has to grapple with an economic storm.