Best of the Week
Most Popular
1. Gold vs Cash in a Financial Crisis - Richard_Mills
2.Current Stock Market Rally Similarities To 1999 - Chris_Vermeulen
3.America See You On The Dark Side Of The Moon - Part2 - James_Quinn
4.Stock Market Trend Forecast Outlook for 2020 - Nadeem_Walayat
5.Who Said Stock Market Traders and Investor are Emotional Right Now? - Chris_Vermeulen
6.Gold Upswing and Lessons from Gold Tops - P_Radomski_CFA
7.Economic Tribulation is Coming, and Here is Why - Michael_Pento
8.What to Expect in Our Next Recession/Depression? - Raymond_Matison
9.The Fed Celebrates While Americans Drown in Financial Despair - John_Mauldin
10.Hi-yo Silver Away! - Richard_Mills
Last 7 days
Coronavirus Coming Storm Act Now to Protect Yourselves and Family to Survive COVID-19 Pandemic - 19th Feb 20
Future Silver Prices Will Shock People, and They’ll Kick Themselves for Not Buying Under $20… - 19th Feb 20
What Alexis Kennedy Learned from Launching Cultist Simulator - 19th Feb 20
Stock Market Potential Short-term top - 18th Feb 20
Coronavirus Fourth Turning - No One Gets Out Of Here Alive! - 18th Feb 20
The Stocks Hit Worst From the Coronavirus - 18th Feb 20
Tips on Pest Control: How to Prevent Pests and Rodents - 18th Feb 20
Buying a Custom Built Gaming PC From Overclockers.co.uk - 1. Delivery and Unboxing - 17th Feb 20
BAIDU (BIDU) Illustrates Why You Should NOT Invest in Chinese Stocks - 17th Feb 20
Financial Markets News Report: February 17, 2020 - February 21, 2020 - 17th Feb 20
NVIDIA (NVDA) GPU King For AI Mega-trend Tech Stocks Investing 2020 - 17th Feb 20
Stock Market Bubble - No One Gets Out Of Here Alive! - 17th Feb 20
British Pound GBP Trend Forecast 2020 - 16th Feb 20
SAMSUNG AI Mega-trend Tech Stocks Investing 2020 - 16th Feb 20
Ignore the Polls, the Markets Have Already Told You Who Wins in 2020 - 16th Feb 20
UK Coronavirus COVID-19 Pandemic WARNING! Sheffield, Manchester, Birmingham Outbreaks Probable - 16th Feb 20
iShares Nasdaq Biotechnology ETF IBB AI Mega-trend Tech Stocks Investing 2020 - 15th Feb 20
Gold Stocks Still Stalled - 15th Feb 20
Is The Technology Stocks Sector Setting Up For A Crash? - 15th Feb 20
UK Calm Before Corona Virus Storm - Infections Forecast into End March 2020 - 15th Feb 20
The Growing Weaponization of Space - 14th Feb 20
Will the 2020s Be Good or Bad for the Gold Market? - 14th Feb 20
Predictive Modeling Suggests Gold Price Will Break Above $1650 Within 15~30 Days - 14th Feb 20
UK Coronavirus COVID-19 Infections and Deaths Trend Forecast 2020 - 14th Feb 20
Coronavirus, Powell and Gold - 14th Feb 20
How the Corona Virus is Affecting Global Stock Markets - 14th Feb 20
British Pound GBP Trend and Elliott Wave Analysis - 13th Feb 20
Owning and Driving a Land Rover Discovery Sport in 2020 - 2 YEAR Review - 13th Feb 20
Shipping Rates Plunge, Commodities and Stocks May Follow - 13th Feb 20
Powell says Fed will aggressively use QE to fight next recession - 13th Feb 20
PALLADIUM - THIS Is What a Run on the Bank for Precious Metals Looks Like… - 13th Feb 20
Bitcoin: "Is it too late to get in?" Get Answers Now - 13th Feb 20
China Coronavirus Infections Soar by 1/3rd to 60,000, Deaths Jump to 1,367 - 13th Feb 20
Crude Oil Price Action – Like a Coiled Spring Already? - 13th Feb 20
China Under Reporting Coronavirus COVID-19 Infections, Africa and South America Hidden Outbreaks - 12th Feb 20
Will USD X Decline About to Trigger Precious Metals Rally - 12th Feb 20
Copper Market is a Coiled Spring - 12th Feb 20
Dow Theory Stock Market Warning from the Utilities Index - 12th Feb 20
How to Get Virgin Media Engineers to FIX Hub 3.0 Problems and NOT BS Customers - 12th Feb 20
China Under Reporting Coronavirus COVID-19 Infections by 66% Due to Capacity Constraints - 12th Feb 20
Is Coronavirus the Black Swan That Takes Gold To-Da-Moon? - 12th Feb 20
Stock Market 2020 – A Close Look At What To Expect - 12th Feb 20
IBM AI Mega-trend Tech Stocks Investing 2020 - 11th Feb 20
The US Dollar’s Subtle Message for Gold - 11th Feb 20
What All To Do Before Opening A Bank Account For Your Business - 11th Feb 20
How and When to Enter Day Trades & Swing Trade For Maximum Gains - 11th Feb 20
The Great Stock Market Dichotomy - 11th Feb 20
Stock Market Sector Rotation Should Peak Within 60+ Days – Part II - 11th Feb 20
CoronaVirus Pandemic Stocks Bear Market Risk 2020? - Video - 11th Feb 20

Market Oracle FREE Newsletter

Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Florida's Panhandle: Supreme Real Estate Buying Opportunity

Housing-Market / US Housing Aug 03, 2010 - 09:44 AM GMT

By: DailyWealth

Housing-Market

Best Financial Markets Analysis ArticleDr. Steve Sjuggerud writes: Greetings from Destin, Florida... Ground Zero for the Double Whammy.

I'm talking about the one-two punch of:

  • The bust in Florida coastal real estate prices...
  • AND the bust in tourism from the BP oil disaster in the Gulf.

The thing you have to realize is, both of these issues will go away some day... People will return to vacation here. And people will buy condos here again.

You also have to realize we might already be past the worst of it in both parts of the Double Whammy.

Residential real estate prices are probably down 50%. And desperate local business owners might sell for even better deals than the homeowners. Driving along the main road (called 98), I've never seen so many "Going Out of Business" signs.

I talked with a large-scale building contractor down here. "It's really tough now," he told me. "We had 250 people working for us three years ago. We were about one-third remodeling, one-third new homes, and one-third commercial construction. Today, it's mostly remodeling. I've cut back to 50 guys, and I have a hard time keeping them busy."

He continued... "In the last few recessions, I felt like I could see a light at the end of the tunnel. The orders would start trickling in. But this recession is different. There's no light yet."

My friend Jeff Archer lives around here. He has a standup paddleboard business – doing board sales and rentals. (His business is called YOLO Boards – short for You Only Live Once – see www.yoloboard.com.) I asked Jeff about how the BP oil disaster has affected his business and other local shops.

"Businesses are hanging on by their fingernails," Jeff told me. "My business has been fine, mainly because paddleboarding is booming. But most businesses are really hurting."

Meanwhile, the beaches are still beautiful...

I spent an hour on the ocean, standup paddle surfing with my 9-year-old son. Not a drop of oil in sight. The ocean was clear and beautiful.

Jeff is on the beaches as much as anyone. "We had some small tar balls a few weeks ago," he told me. "But they were cleaned up off the beaches really quickly. We haven't had anything lately. The water and beaches are clean."

This is the most frustrating part for local business owners. The water and beaches are clean. But business is way down.

"The media has scared the tourists away – but we don't have any oil." I heard that over and over. Most of the resorts here have a nice offer – essentially "if there's oil, we'll give you your deposit back and you don't have to come."

But that message isn't getting out, and isn't resonating with people. You don't want to book a vacation to have it cancelled.

The Double Whammy has smacked Destin. Real estate prices are possibly down by half. And business owners are "hanging on by fingernails."

Meanwhile, Destin's beaches are clean. Oil free. No problem.

Don't get me wrong... It's not a ghost town. It's touristy here. And crowded. If business is terrible, I'd hate to see the main road when the town is full.

But if you ever wanted a vacation property or a business in this area, chances are good you'll never have the kind of opportunity you have right this second.

I am 100% certain the Double Whammy will dissipate. If you're interested, and can swing it, it's probably time to buy.

Good investing,

Steve
P.S. The tough situation in Florida real estate is also one of the reasons why a unique kind of investment (that is completely outside of the stock market) is churning out safe, double-digit income payments right now. You can learn how to begin collecting here.

http://www.dailywealth.com

The DailyWealth Investment Philosophy: In a nutshell, my investment philosophy is this: Buy things of extraordinary value at a time when nobody else wants them. Then sell when people are willing to pay any price. You see, at DailyWealth, we believe most investors take way too much risk. Our mission is to show you how to avoid risky investments, and how to avoid what the average investor is doing. I believe that you can make a lot of money – and do it safely – by simply doing the opposite of what is most popular.

Customer Service: 1-888-261-2693 – Copyright 2010 Stansberry & Associates Investment Research. All Rights Reserved. Protected by copyright laws of the United States and international treaties. This e-letter may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express written permission of Stansberry & Associates Investment Research, LLC. 1217 Saint Paul Street, Baltimore MD 21202

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Daily Wealth Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

Davisprop.com Sales Team
03 Aug 10, 13:32
Florida's Panhandle: Supreme Real Estate Buying Opportunity

This area of NW Florida has a lot of favorable things going for it. Beautiful World class beaches, Coastal Dune Lakes that are only found in a few places world-wide, Coastal beach communities with wonderful architectural styles, highest dune elevation on the gulf coast, moderate year-round climate and much more. See for yourself what the area looks like: http://www.youtube.com/watch?v=hWJJjHa-eog

We have a brand new, International airport with direct flights from Orlando Fl, Nashville, Tn, Houston Tx and Baltimore MD serviced by Southwest Airlines. To search for available properties in the area visit: http://www.davisprop.com.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules