Economic Clouds Have
The Mortgage rate has
not been this low for 30 years, the population is growing both of which
are increasing the need for housing.
Due to the temporary
economic slump Tampa Bay experienced we do have a small excess of
housing inventory on the market, which will quickly be consumed. Last
year Hillsborough was the leading Florida County in growth, increasing
its population by 6353 people. Each one of those people is here looking
for a home to live in.
The economy is
recovery now, population growth requires it. We have a supply of
inexpensive housing, a large available construction workforce and a
massive influx of population already entering our borders.
Naysayers do talk
about double dip recession, but there is always a chicken-little looking
to make political points by screaming the sky is falling. It is just
political theatre for the elections. The real economists know that
population growth is the cornerstone of the Florida economy and have
already seen that growth.
These naysayers never
were convincing that the slow down was even worthy of the word
recession, they used it only for shock value. In truth our population
grew for every year but one (2008) over the last several decades. This
has been a small blip when viewed historically. The alarmists are using
this small blip to spread fear and panic for their own gain.
The negative talk of
our economy is based upon worries of high unemployment yet in truth that
is our strength. We have the available labor to quickly react to the
incoming rise of demand for housing.
The simple truth as
evident by the facts is that the growth business model of Florida is
sound and continuing to offer us economic rewards.
The sensible action
now is to encourage the development of housing to meet the coming
demand. We need to assist business by waiving impact fees, easing
environmental regulations and to be a cooperative partner with the
developers who are building the future of Florida.