The following article has been written by Rob Rose, a
Gay Realtor in Fort Lauderdale, Florida. Rob Rose can be reached online at
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
across the country is in a bubble that is about to burst. That
true. Despite George Bush’s insistence that the economy and
is strong in Middle America, reliable data indicates
otherwise, with no
real improvement in sight. Add to that the prospect of rising
rates, and Middle America is indeed in for a financial
will in fact cause price adjustments in housing for many
With the average middle-income family spending a greater
income on housing than ever, and often buying more house than
normally afford with a low-rate adjustable mortgage, any
negative change in the nations economy could spell disaster,
causing the real estate bubble to burst. While I believe this
prognosis for many younger people and families with average
experience as a Realtor in the greater Fort Lauderdale area
has given me
first-hand knowledge of a much more positive outlook for real
appreciation., with no bubble in sight.
Fort Lauderdale continues to be discovered by more and more
as a great place to live, and demand continues to outpace
cost of housing related to income continues to widen, creating
more like San Francisco, where the average worker was long ago
out of the market as a first-time buyer. Who is buying real
Fort Lauderdale, and how can they afford it?
A major Florida developer conducted a nation-wide survey to
what type of housing they should be building, where, and for
study showed that 30 percent of baby boomers are planning a
retirement. That is an astounding number. This generation,
in urban cities around the Country, is my primary client base.
unlike any generation that came before them.
Unlike prior generations, baby boomers tended to buy a first
they were single. They enjoyed unprecedented appreciation of
property, often giving them confidence to buy a larger home,
particularly after marriage. Prior generations tended to buy a
stay there until death This generation has moved often, each
benefiting from appreciation. Many also own a second home
investment property, and often have significant equity in a
estate portfolio. The majority of my clients fit this real
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
estate investments to this area, or buying second homes for a
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
job income is stable, or whether they can swing the mortgage
rates go up. They have lots of cash, lots of equity, and lots
confidence in real estate.
While this is bad news for many first-time and modest income
believe it is a good indicator of where the local real estate
headed. I for one am not holding my breath for the bubble to
eastern Broward County, and from personal experience working
hundreds if not thousands of gay baby boomer clients, I can
tell you I’m
If you’re the worrying sort, I’d be more concerned about
the rising cost
of health care, and cast my vote for Kerry.
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
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.
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