University of Florida’s Bergstrom Center Says #Florida Real Estate Market Has Bottomed #CRE
Florida real estate markets show the first tentative signs of being on the verge of recovering from the most painful recession in the state’s history, according to the latest report from the University of Florida.
“They see the fundamentals of the economy stabilizing and they see the opportunity to get quality assets at a good price,” he said. “So if they think things aren’t going to get worse and they may actually get better, it follows that they’re going to want to start investing again.” Says Timothy Becker Director of the Bergstrom Center for Real Estate Studies
The retail and office markets are the worst off, Becker said. “Until there is an increase in job growth, there is no need for more office space, and people aren’t spending as much money as they used to,” he said.
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I hope this is true, that we are at the bottom. It appears there are large cash reserves waiting to buy up some Commercial Real Estate. The Tampa Bay & St Petersburg area is ripe.