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Economic Woes Continue For Florida

October 9th, 2008 by flanews

Pending home sales have risen seven percent in some parts of Florida. The increase is being attributed to falling home prices. As Whitney Ray tells us, the increase in the housing market is bittersweet and things in Florida could get worse before they get better.

Hear it Here: Economic Woes Continue For Florida

With falling prices fueling a slight increase in the states housing market, real estate agents are chomping at the bit to get a piece of the action.

Coldwell Banker is offering a ten percent discount on some of its listing in Florida to people who buy before October 19th.

Were trying to gain the interest of the buyers who are there and we are. I think people are aware that there are some good buys out there, said Ann Brockett, the Managing Broker for Coldwell Banker Hartung.

While the news is bittersweet for Floridas real estate market, its all bad news on the jobless front.

In a cascade of events that started with a slow down in the construction industry and trickled down to small businesses, the states workforce suffered huge blows. Floridas unemployment rate is at a 13 year high and exceeds the national average.

Governor Charlie Crist spent an hour meeting with Florida bankers. Afterward we asked if Florida is in a recession.

The economys tough. I dont know what you technically call it. You know its a difficult challenging situation and theres no question about it.

Crist says the best thing Floridians can do in these tough times is to keep spending.

Posted in Business, Charlie Crist, Housing, State Budget, State News | No Comments »

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