REAL ESTATE TAXES - Property owners want to know: How much will January’s property tax amendment, if it passes, impact the current housing market? Most experts agree it will help some, but a number of economists warn that Florida won’t see a sudden or dramatic turnaround.
ECONOMY – State economists crunch numbers and tell the Florida Legislature how much the state can expect to take in before lawmakers start figuring out the next year’s budget. On Friday, the economists announced a new outlook. The good news: The state’s real estate industry, they say, will not get any worse. The bad news: Recovery won’t arrive until 2009.
FORECLOSURES – Members of Congress pushed the Bush administration on Friday to accelerate efforts to stem a rising tide of home foreclosures. However. Treasury Undersecretary Robert K. Steel said that the administration was working “flat out” to deal with the crisis.
RETIREMENT HOUSING – For millions of Americans approaching retirement, a big part of their fortune may be tied up in something they might never want to sell: their homes. According to the Standard & Poor’s Case-Shiller index, the real value of a single-family house in the U.S. has more than doubled in 10 years, despite the recent drop in home prices.
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