UF: Confidence in Florida real estate markets at new low
GAINESVILLE, Fla. – An accelerating avalanche of bad economic news has swept over Florida real estate to sink confidence in the industry to its lowest level since a statewide survey of economic experts began three years ago, a new University of Florida report finds.
Name the segment of real estate – retail, offices, housing, condos and the consumer’s frame of mind – and the survey finds that with few exceptions belief in the market has sagged to lows seldom seen in the state, says Wayne Archer, executive director of UF’s Bergstrom Center for Real Estate Studies.
Poll: Americans favor smarter transportation spending in stimulus
WASHINGTON – Jan. 20, 2009 – Eighty percent of Americans want transportation and other infrastructure spending included in the economic stimulus bill to target projects that achieve multiple goals and create new jobs, according to a survey sponsored by the National Association of Realtors® and Transportation for America.
The 2009 Growth and Transportation Survey describes what Americans think about how development affects their immediate community. An overwhelming 80 percent believe it’s more important that a stimulus plan include efforts to repair existing highways and build public transit rather than build new highways. Forty-five percent of those polled said construction of new highways should “definitely” or “probably” not be included in the plan.
Fannie & Freddie Nationalized?
It started late Sunday night when I was watching Bloomberg Europe around 3:30 am. They had an interview with a hedge fund manager from the United Kingdom and he was basically saying at the end of the day the US government will have no choice but to nationalize Fannie and Freddie. That got me thinking about the recent drum beat that is coming in unison from Hank Paulson and Ben Bernake. You know the statement they have both been screaming from the rooftop “the markets need to realize that no financial institution is to large or to connected for failure”. At first I was thinking wow who is it, Bank America, JP Morgan, Wachovia? Then the slide this week on Wallstreet with Fannie (FNM) and Freddie (FRE). Doug Kass last night on Kudlow and Company put it like this “I have been short Fannie and Freddie for over a year and half and I am not covering because I fully expect unless goverment policy affects the foreclosures Fannie (FNM) and Freddie (FRE) are heading to zero and will be nationalized”. All I can say is wow, I and a lot of other people always thought Fannie and Freddie were to large and connected to fail.
South Florida Real Estate Boom?
Recently while debating with a family member about the prior real estate cycle verses current economic conditions, my family member stated that many have accumulated wealth in Real Estate during this Administration’s Economic policies. I smiled and later that evening I picked up one of my favorite books (Empire of Debt by William Bonner and Addison Wiggin) to review a chapter regarding Real Booms Versus The Phony Variety. I figured this might shed some light on the prior debate with my beloved family member, and after reading a part of the 9th chapter, I found myself in a real mental debate. (more…)
