Market Trends
GOODKIN WARNS OF SPECULATIVE BUYING
IN FEDERAL RESERVE BANK OF ATLANTA REPORT
ATLANTA – Speculators in South Florida’s new condominium market could be in for an unpleasant surprise, warns Lewis M. Goodkin, CRE , FRICS, MIRM, in a recent report by the Federal Reserve Bank of Atlanta.
Rising interest rates and high debt levels could increase the pressure for speculators sell at a time with little real demand from end-users, he said in the third quarter EconSouth article, “Florida Housing: Blueprint for Success?”
“We’ve had a growth in demand that’s very real and based on economic fundamentals,” said Goodkin. “But that growth has been greatly enhanced by something that has very little relationship to it, and that is speculation, or investment buying. There’s a sense of urgency in the marketplace that accelerates moves on the part of buyers.” More>>
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