We have a couple of trends that I like to point out, one of the trends was in my previous post relating to a price stability of some communities, others I will go through now.
First, we all know the state of the economy, still not good. However, what does the Orlando economy look like? UCF recently came out with Florida & Metro Forecast and Income growth is expected to go up 4.9% annually. This additional income, IF inflation stays in check, will actually make a significant bump to the consumers in our area. The Professional and Business Services is expected lead the industries in the area with a respectable 3.6% growth rate, then Education and Health Services, thanks to the medical city in Lake Nona area, is expected to grow at 2.8%. Some areas will decrease, one mentioned was Mining... we have mining in Florida?
In the real estate arena, we have a decent amount of federal money coming to "improve or demolish" foreclosed properties, in the amount of $34.5 million. There are a number of mentions of projects coming to the area which are the reasons we see the better economic look. What is more than a little disturbing is, who really is getting the fed money? Who owns most of these properties after foreclosure? The freakin' banks, super, they need more money from tax payers right?
Orlando Grows - UCF
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