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August 31st, 2007 9:42 AM by David W. Welch
"While recovery may be some time off, it is clear that Florida's housing markets have bottomed out." This is a quote from Hank Fishkind Ph.D. an economist here in Central Florida. The headline in the Orlando Sentinel is "Scary" Housing Market Tumbles. If you don't read the entire article or if you skim it you would think we were going under for the third time. What it actually says about our local market is that we have hit the bottom. Prices are off by 0.3% in the four county area around Orlando, and economists are saying what I have been blogging all along we have not been hit as hard and will not stay down as long as other markets. The bottom line when it comes to the housing market is Jobs = Housing. We have the number ONE job market in the country. If builders and condo developer had not over built the last three years we would still be chugging along.