Some so-called "Experts" are offering words of caution, warning prices can't keep going up like this. (Like DUH!) This is the second dumbest thing I've heard since the Shadow Inventory. Certainly we are bouncing off a bottom and we are not going to see 20% a year. But what does that mean? Perhaps you will only see 10-12%. What, is that a bad thing? After all, who wants a measley 10-12% profit? Other analysts also point out how the inventory of homes on the market has come way down, and a tighter market by definition will always be less frothy.
I have lived in South Florida since the 50s. It has historically been a boom and bust cycle. In a "normal" year property values in South Florida might appreciate 7-10%. The real estate market crashed in the 70s, the 80s and the 90s. People were running around like chickens with their heads cut off, screaming the sky was falling. Our last downturn has been especially severe, but that was in large part due to our fine friends on Wall Street, playing the slots.
In my professional opinion we are looking at a pretty good stretch over the next couple years in South Florida, barring asteroid impacts and/or the total collapse of Western Civilization (a.k.a. my "Act of God" Disclaimer). No, you probably won't get 20% a year. But if you buy right and get good value (i.e. price versus location) you should still be able to see double-digit appreciation.
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