Sign of Economic Woes: Florida Population Declines for first time in 53 years
That's right folks, for the first time in over 50 years the population of Heaven's Waiting Room has declined. Why you may ask.
In my opinion it is just the economy. The state of Florida has 10.6% unemployment. Locally here in Pasco we are at 12% unemployment. And it is hard to budget for retirement when you do not know how much it is going to cost in the long term.
But rest assured the Baby Boomers will reverse this anomaly in the states growth.
With the crash in our Real Estate market and the high rate of foreclosure we are starting to look very attractive to investors, both foreign and domestic. And with a bottom eventually to be found, those looking for a nice place to retire will again turn their eyes towards Florida.
Read the full article at www.FloridaRealtors.org
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I read this also. The decline I think is due to higher unemployment, lower pay on average, and higher cost of living. Florida is no longer a cheaper place to live when compared to other parts of the country- our utility bills have doubled, taxes have risen, insurance premiums are through the roof, and jobs pay less than other regions.
The sun belt needs to re-examine what brought people here in the first place, and what is needed to keep them from leaving.
Thanks for the feedback Allison. Everybody I know was always asking me about how things will become more affordable. my response was, the govt does not lower taxes, they raise them. Insurance companies do not lower rates, they raise them. So the only thing to make Florida homeownership more attractive would be a crash in home prices. Now that you can buy a house for less than $50,000 again, I think we will see a reversal in the trend. I doubt it will be this year though