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Florida Real Estate in Perspective.

December 12, 2008

In 1958 the median value of a home was $11,800 today it is $205,500. Household median income was $4,722 and today it is $65,024. Over the years the real estate market has seen it’s ups and down. This current downturn will be like the others and home values will certainly recover and go higher than even before. Remember, it is the contrarian investor that makes money.  When everyone is trying to sell and most buyers are on the fence it is time to buy.

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4 comments

  1. Interestingly in the 50’s, homes were only twice the median family income and they are now more than three times the median family income.


  2. Most would agree that the standard of living is greater today than it was then. We enjoy far more choices today then we did now. Also the difference today is that so many of the homes in Florida are owned by people who earn income in an other state. Our real estate values are effected by the fact that a large percentage of the homes purchased in Florida are done so by international buyer who often pay cash. This is not unlike what is going on in other countries like Costa Rica.


  3. Right now the foreign are the main target for some investors to have on their buyers lists. Large supply and dropping prices (we’re on sale), it’s black friday everyday here.

    http://www.inexpensiveinvestinginflorida.com

    Thanks


  4. International buyers have been making many purchases in Sarasota. As of August of this year 30% of all real estate transactions were attributable to foreign buyers. Canada accounted for 38% followed by the UK with 30% and then Germany and France accounting for less than 5% each.



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