Sunshine, nice weather, bargain prices on real estate and no state tax help Florida continue to attract the affluent from around the globe. Collier County (Naples) Florida tops with list with Tampa Bay well represented by Manatee County & Sarasota County.

Affluent continue to move to Florida

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The Apartment Finance Today conference was a great opportunity to share ideas with the best and brightest in the multi-family investment, development and finance industry. The final session of the conference was a panel with three economists focused on answering the key question on everyone’s mind:

  • What are the best & worst nationwide markets for apartment investment?

If you would like to view these PowerPoint presentations they are available from the widget on the right hand side of this blog or follow this link to the folder:

NOTE: These are not my work product, they were prepared by:

  • Sam Chandan, Global Chief Economist and Executive Vice President, Real Capital Analytics
  • Ryan Severino, Economist, REIS
  • Greg Willett, Vice President, Research & Analysis, MPF Research

This 20-slide presentation was prepared by Hessam Nadji, managing director of research services at Marcus & Millichap for the recent Multifamily Executive Conference in Las Vegas.  Nadji has indicated that the housing market has bottomed, though he expects prices to continue declining for nine to 12 months due to foreclosures. But the really good news, in Nadji’s mind, is that the government averted a collapse of the financial system. “The government did avert the worst-case scenario. A year ago, we were very close to a run on the banks… As bad as things are, they could have been a lot worse.”

BLOGGER COMMENT: I attended a Wells Fargo Private Bank Economic Summit this past Wednesday in Tampa… They flew economist Ronald Florance in from California to speak to our luncheon crowd. Great quote: ‘risk is on sale around the world… now is a great time to buy multi-generational assets at a significant discount to replacement cost.’ What this says to me is that the rich will get richer and highly liquid investors will use the lack of liquidity in the real estate market to their advantage and buy legacy assets for much less than intrinsic value.

View 5m 55sec video interview of Barbara Corcoran on The Today Show selecting Sarasota as the #1 and St. Petersburg as the #6 turnaround residential markets in the USA. God Bless America!!