Much like California, Florida has often been the land of investor dreams – and investor heartache.
A potent mix of retirees, snowbirds, job seekers and foreign investors has swung home prices to ridiculous highs and stomach-churning lows more than once in the past. In just a few years before 2008, home prices in some Florida markets more than doubled—but after 2008 they fell 60%.
In the years that strong economic growth has returned to Florida, it’s not surprising that home prices have again climbed briskly in almost all local Florida markets. Does this mean that investors can just dive back into the warm Florida waters, certain of a good return on their efforts?