$100 million + homes becoming.....
Not unheard of,,,,,,
Trump's home, Aspen, lake tahoe......
$100 Mill
A new space race.....
Earth , a small planet where the dominant life form called humans are so puffed up with their own importance in the universe that they think they can destroy their planet with Nuclear bombs and global warming. And they want to spread this nonsense to other planets. Yeah.
Not unheard of,,,,,,
Stop the blame directed at the real estate agents because they "caused" the bubble and treated property like internet stocks , Blah blah blah......
---------CRAP.
Did you guys see last Sundays article about the dude with the 120K house in Ft. Walton Beach
Heard of Destin?
Nuke the enemy.
When the going gets tough, St. Joe runs more ads and spends more on PR.
Yes we did sell a Beach front home in Rosemary beach, Fl for $7.2 Million dollars which is also the second highest sale in the 30-A area to date.
Here's a discussion from Jeff Masters' valuable Wunderblog:
A trend to El Niño at this time of year is unusual; May or June are the typical months that El Niño starts to develop. While the Climate Prediction Center expects that this will be a weak El Niño, the unusual timing of this event puts us in relatively uncharted territory. Since 1950, only one El Niño has started in the Fall, the El Niño of 1968. This event was an average El Niño, with a peak SST warming in the East Pacific of 1.0º C. For comparison, the warming was 2.3-2.5º C in the record El Niño events of 1997-98 and 1982-83. The unusual timing of the 2006 El Niño event comes on the heels of the unusual timing of the La Niña event that ended in May. The 2006 La Niña started very late--no La Niña of similar magnitude had ever formed in the middle of winter, as this one did. One may legitimately ask if these events might be linked to human-caused climate change. I am concerned that this might be the case, but we don't have a long enough record of historical El Niño events to know. Up until 1975, La Niña events and El Niño events used to alternate fairly regularly with a period of 2-7 years. Between 1950 and 1976 there were seven El Niño events and seven La Niña events. Since 1976, El Niño events have been approximately twice as frequent as La Niña events, with ten El Niño events and only six La Niñas. Some researchers have speculated that this is due to the effects of global warming causing a new "resonance" in the climate system. If so, this is one way in which global warming may end up causing a decrease in Atlantic hurricane activity over the coming decades, since the increased wind shear over the Atlantic during El Niño events greatly reduces the number and intensity of these storms.
Judge Angers Commander in Chief .... and The NSA
New York New York,
This is the reality of our local market right now.
Real estate analyst Jack McCabe, of McCabe Research and Consulting in Deerfield Beach, Fla., says that desperate developers in South Florida, for example, are now offering potential buyers a host of generous incentives, in one case even the free use of a yacht. "Our area's incentives really vary by market and product type, so we're seeing just about everything today -- points and closing costs being paid by sellers, upgraded trim and generous kitchen appliance packages, one year of (paid) condo fees, big-screen plasma TVs being thrown in for free, two-year leases on luxury automobiles, even ... limousine service both to and from the airport whenever you need it."
With wall street dropping 75 points on bad news from major hombuilders we realize that our little corner of the world is really a niche market or a micro market as I like to refer to it.
Bubble trouble rubbish
NEW YORK -- Sept. 6, 2006 -- If there is one good reason to believe the U.S. housing market wasn't in a true bubble in recent years, and that the popping of that bubble won't soon spell ruin for the economy, it is that so many smart and otherwise optimistic experts have predicted just such a scenario for so long.
You know the basic plot: Millions of Americans saddled with homes they can't afford will face imminent foreclosure. That process will flood the market with more inventory -- driving down home prices even further.
Then this vicious cycle will begin anew until prices finally bottom out with a horrific thud. As a result, consumers will stop spending and the economy will dive into a severe consumer-led recession.
But what if the housing market not only isn't going into a death spiral, what if the U.S. economy is less dependent on housing than we were led to believe?
That provocative thesis comes from an unlikely and profoundly respected authority on such matters -- Ray Dalio and the folks at Bridgewater Associates, the second biggest manager of hedge fund assets in the world, with more than $140 billion in assets.
Bridgewater became that big the old-fashioned way: with decades of spot-on analysis of the U.S. and global economy -- which is why its take on housing merits notice.
First of all, Bridgewater believes that the housing market will likely enjoy a so-called soft landing, with prices dropping on average by only 7 percent -- the amount it says is likely needed to bring home prices back to average levels of affordability.
If that's the case, they say, the impact on GDP (gross domestic product) will be noticeable, but not too painful. One only has to look at the soft landing in Britain -- where housing mania preceded the American frenzy -- to see that a soft landing is not only possible but tolerable.
As for U.S. consumer spending, here too Bridgewater is betting that the indirect impact of rising home prices may have been overblown.
Although it is widely known that homeowners last year took out $530 billion in home equity and other home-related loans, Bridgewater believes with interest rates still relatively low, creative consumers are finding ways to replace that home piggybank with other types of financing from credit card companies and the like.
"The notion that a slowdown in housing leads to a slowdown in the economy is often true, but not because the housing market causes the slowdown," the Bridgewater report concludes. "Rather, interest rates generally are raised to a level that chokes off all activity and housing gets hit first. Our measures suggest rates are still too low to choke off the overall economy."
Of course, the recent housing mania is without precedent -- especially to the extent that it was driven and nurtured by record amounts of borrowed money. Given the excess, the case for a hard landing is easy to fathom.
But don't count the Bridgewater analysis out -- they have the track record, and so far the economic numbers are on their side.
Copyright © 2006 NYP Holdings Inc., Terry Keenan. All rights reserved.
PROPERTY INSURANCE
When private insurers participate in Citizens Property Insurance Corp.'s
takeout program -- which allows the companies to take homeowners'
policies from what is now Florida's largest property insurer -- those
homeowners find that they have little choice in the matter. And the
switch often results in huge rate increases.
Read the full story:
http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n2-09052006
I hope you all enjoyed this last big three day weekend before the long stretch .....