The following article has been written by Rob Rose, a Gay Realtor in Fort Lauderdale, Florida. Rob Rose can be reached online at 
http://www.gayrealtynet.com/Florida.htm

Is There a Real Estate Bubble in Fort Lauderdale?

I Wouldn’t Bank On It.

Many people are hearing lots of chatter about how the real estate market

across the country is in a bubble that is about to burst. That may be

true. Despite George Bush’s insistence that the economy and job market

is strong in Middle America, reliable data indicates otherwise, with no

real improvement in sight. Add to that the prospect of rising interest

rates, and Middle America is indeed in for a financial struggle that

will in fact cause price adjustments in housing for many Americans.

With the average middle-income family spending a greater percentage of

income on housing than ever, and often buying more house than they could

normally afford with a low-rate adjustable mortgage, any broad-based

negative change in the nations economy could spell disaster, even panic,

causing the real estate bubble to burst. While I believe this is the

prognosis for many younger people and families with average incomes, my

experience as a Realtor in the greater Fort Lauderdale area has given me

first-hand knowledge of a much more positive outlook for real estate

appreciation., with no bubble in sight.

Fort Lauderdale continues to be discovered by more and more gay people

as a great place to live, and demand continues to outpace supply. The

cost of housing related to income continues to widen, creating a market

more like San Francisco, where the average worker was long ago priced

out of the market as a first-time buyer. Who is buying real estate in

Fort Lauderdale, and how can they afford it?

A major Florida developer conducted a nation-wide survey to determine

what type of housing they should be building, where, and for who. That

study showed that 30 percent of baby boomers are planning a Florida

retirement. That is an astounding number. This generation, many living

in urban cities around the Country, is my primary client base. They are

unlike any generation that came before them.

Unlike prior generations, baby boomers tended to buy a first home when

they were single. They enjoyed unprecedented appreciation of that

property, often giving them confidence to buy a larger home,

particularly after marriage. Prior generations tended to buy a home and

stay there until death This generation has moved often, each time

benefiting from appreciation. Many also own a second home and/or

investment property, and often have significant equity in a diverse real

estate portfolio. The majority of my clients fit this real estate-rich

aging baby boomer profile and the majority of them are gay. Every day I

work with gay people who are moving to Fort Lauderdale, or moving real

estate investments to this area, or buying second homes for a future

retirement, or buying anything just to get in on what they know is a

market that is destined to continue to rise in value.

This is not about whether they can find suitable work or whether their

job income is stable, or whether they can swing the mortgage payment if

rates go up. They have lots of cash, lots of equity, and lots of

confidence in real estate.

While this is bad news for many first-time and modest income buyers, I

believe it is a good indicator of where the local real estate market is

headed. I for one am not holding my breath for the bubble to burst in

eastern Broward County, and from personal experience working with

hundreds if not thousands of gay baby boomer clients, I can tell you I’m

not alone.

If you’re the worrying sort, I’d be more concerned about the rising cost

of health care, and cast my vote for Kerry.

Rob Rose

R.L. Rose & Co., Realtors

217 N.E. 2 Street

Fort Lauderdale, Florida 33301

Toll-Free: (800) Rob-Rose

Direct Line: (954) 467-3305 Ext 201

Facsimile: (954) 467-0507

Executive Assistant Michael Dillon, Ext 202

Sales Assistant John Cotter, Ext. 205

Please visit www.southfloridahome.com  where you can search the area MLS

for any property currently listed by any agent by clicking on MLS

SEARCH. You will automatically be notified when a new listing comes on

the market meeting your criteria. If you prefer (and to get more

specific properties) I can set up more specific searching based on your

criteria and my knowledge of the area.

I have been in real estate in the area for 25 years and know all of

Broward County and Southern Palm Beach County better than any other

Realtor.

My website has a wealth of information about how I work for buyers and

sellers, Condominium and neighborhood profiles, and tips, information

and articles I have written related to real estate in southeast Florida.

Please let me know if I can help you with your real estate needs.

Website: www.southfloridahome.com 

Search MLS: www.southfloridahome.com/searchmls.html 

Buyer Survey: www.southfloridahome.com/buyersurvey.html 

Seller Survey: www.southfloridahome.com/sellersurvey.html 

The following article has been written by Rob Rose, a Gay Realtor in Fort Lauderdale, Florida. Rob Rose can be reached online at 
http://www.gayrealtynet.com/Florida.htm