Tuesday, October 30, 2007

Nostradomus said Orlando Housing Bubble is going to burst

Wow - This is so Great- Article from a blog in on May 19th 2005. This guy is my new hero. He saw the Orlando Housing Market crash a long time ago. Great article...it was a bit before the Orlando housing market crashes, and everyone saw it coming...but still they head it dead on...when the investors pulled out (in Orlando and everywhere) the issues started.

The Orlando Sentinel tells us that the RE market may be coming to a head. "'It's insane,' said Gary Balanoff, broker-owner of Re/Max Select. 'Where does it end? I don't know.' The 21-year industry veteran said he has never seen such price escalation."

"There was a sign that change could be coming, with April sales throughout the region falling nearly 5 percent compared with April 2004. That was accompanied by a 5 percent increase in the inventory of available homes."

"Barbara Vance said she is dealing with more investors than ever before, with many buyers quickly becoming sellers."This is a quote for the ages. "If there is a slowdown, Brenda Rogers of the Lake County Association of Realtors wouldn't mind: 'I kind of wish we would. We've been so busy.'"

1 comment:

Anonymous said...

Gimme a break. When everybody saw the market going up, some were quick to shout from the rooftops, "it's going to crash." That way they can say they were the first to say it. What goes up must come down, at least when we talk about the quick run-up of 2005 housing prices in Orlando.