Columns: Florida's housing bubble, is it ready to burst | NowPublic News Coverage

Columns: Florida's housing bubble, is it ready to burst

by debwire | May 25, 2005 at 03:24 am

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May 25 - When Florida can claim four of the top five, and eight of the top 10, metropolitan areas in the nation with the greatest home price appreciation in the first quarter of 2005, can talk of speculative investing be far behind?

When the median sales price in April of a single-family home in Florida soared to $218,600, a breathtaking 26 percent increase in one year's time, can a real estate bubble be looming?

Florida dominates nearly every list of over heated housing markets these days. That trend is stoking the debate over the size and severity of the real estate bubble in the Sunshine State, even amid the brisk national runup in home prices.

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Troy

at 17:26 on January 18th, 2008

Miami Real Estate development deal fails to close

The
Related Group of Florida, a Miami-based developer of high-end
condominiums, has backed out of a partnership that would have
spearheaded a Southbank development.

Stevan Pardo, a partner in
Riverwalk Hotels LLC, announced that Related Group will no longer
pursue the partnership on the planned 2,000 unit mixed-use development
in the San Marco Riverfront Village.

Pardo was told that the company
would wanted to “monitor market conditions” at the same time waiting
for the city’s response to a request for tax increment financing to pay
for streets, parks and a riverwalk.

But Jacksonville Economic
Development Commission Director Ron Barton said the city only received
Pardo’s $30 million request for the financing three days ago.

“If the Related Group pulled out,
it’s not going to be because of the city or any [tax increment
financing] discussion,” Barton said.

Marie Rose Arong

Miami Real Estate