OPTIMISTIC OUTLOOK, Part 1
Not one article, report, survey, talking-head opinion, or whatever sways my thinking one way or another. I treat all of them as 'just another data point.'
Those who follow my posts have come to learn that I approach things quite analytically and try to look at the data, report it as it is, and offer my views on the subject. I do try to stay away from subject matter where I'm not an expert - i.e. overall economic rebound (or not.)
However, I've been taking mental note of the number of occurrences for real estate mentions within overall economic news. The housing market is, after all, a major driver in the economy and the recovery should there be one. Many believe that it has begun, slowly albeit. The slow part of the recovery is what's hard to take, we all want instant gratification. A slow, stable, soundly fueled recovery is what we need, though.
Back to real estate. The clipped article above presented on front page of the Naples Daily News talks about housing and the rebound as a part of the recovery among other things here in southwest Florida. It claims that signs have been there since 2009. That I can attest to starting with the rock bottom pricing back then. It has been happening for some time now. Inventory has dropped dramatically, median home prices are going up, new developments are popping up all over (and selling!), new but previsouly stalled developments from the housing crash are all in recovery with new developers and builders, restaurant, hotel, and sales tax revenue are all up, and lastly our seasonal rental market has been red hot. (Side note: renters had to scramble for 2012 winter rentals and were lucky to get them, many didn't. Right now, renters have already booked 2012 winter rentals. If you want one and haven't done it yet, get going!)
So this article above is one data point, not too long ago I attended a real estate specific economic meeting with renown economists (article left) and it was reported that home values could be up in the Naples market 10% by December 2012. I routinely hear similar real estate recovery news in the nationwide media and see it in real estate reporting Internet outlets. When you compile enough data points, you have a trend.
That's my view...what's yours?