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August 3rd, 2010 11:48 AM by David W. Welch
The Orlando Sentinel ran an article yesterday http://www.orlandosentinel.com/business/os-tourist-tax-june-20100802,0,1325715.story about the increases in the local tourism tax. This also made the local news on television last night, because this is a positive sign for Orlando economy. Expectations are that July will be even better. At least part of this is the opening of the new Wizarding World of Harry Potter at Islands of Adventure. The international homebuilders conference is here again this year, and though it is not expected to be as big, it will still bring a lot of money to the area. The new Amway Center is also poised to open soon, and recently had a job fair for the 1,000 part time and seasonal positions they will be hiring. Full Sail University is also going forward with some pretty ambitious expansion plans.
I just look at all of these along with the medical city, commuter rail, the new center for the arts venue and other positive developments around town, and I have to be optimistic about where things are going. I believe once the election picture is clearer, businesses will be faced with less uncertainty. Hopefully, this will lead to more hiring. That is all we really need to begin seeing the excess housing inventory start to dry up. Once that happens prices will begin to turn around, leaving fewer people "under water" on their mortgages. Then we will begin to see a real recovery.
David Welch Real Estate Optimist, Orlando Real Estate