Downtown Construction Update: November 2007

[heights unknown]

What a shame.

[gatorback]

I really want to see these built out.  I think if Jacksonville wants to make these un-dead the city could.

[thelakelander]

It has more to do with the housing market than Jax.  Projects are being canceled in most cities across the US.

[gatorback]

I hear ya...only the market has been hit really hard in Florida as the rest of the cities across the US are just slowing down--the bottom feel out in FL.  Glad I got out when I did...rather...the firm "helped" me out.  I don't think either of the homes I've sold in Florida have turned as they were both bought by speculators.

[Jason]

Three home in my area that have been on sale for quite some time have all sold to out of towners moving to St. Augustine.  One couple I spoke with said they were waiting for the market to busrt so the prices would be more reasonable.  IMO, things should be picking back up before too long as more and more find out that the market has bottomed out and will be on the upswing soon.  There are still gobs of people wanting to move to Florida and cheaper home prices will be the bait to draw them in.

[thelakelander]

The market has been bad in other places as well.  Even up here, people are complaining about getting laid off and the number of foreclosures going up because of adjustable rate mortgages.  Major projects are being canceled in Chicago, Miami, Las Vegas and California.  Everything runs in cycles and right now we're on the low end.