Housing Crisis Averted

Naysayers may now recoil back to their dark holes because there is no longer denying the housing market and our underlying population growth model in Tampa Bay is vibrant and solid.

 It is now cheaper to buy a home in Tampa Bay then to rent one. Aggressive pricing combined with record low mortgage rates assure the continued success of what critics slandered as “the condo economy”.

 The dynamic growth model responded quickly to an unusual blip in housing value increases by producing value to the new market conditions and demands.

 “The cure all to this small delay of economic growth is the delay itself. We always knew things would work out sooner or later” Said Tampa Bay Chamber Partnership Vice President Dick Bornhere at a recent phone interview. “The great strength of basing our entire economic engine in the hands of a few developers is once again vindicated.”

 The Tampa Bay Chamber data show that a $135,000 mortgage, the are average home sale price, at 4.5% would cost $675 plus taxes and upkeep. This is still well below the cost of renting the same home. In fact the cost would be 30% less.

 This average price would require a salary of approximately $45,000 to qualify for the mortgage yet the average worker in Tampa Bay makes only $35,000. Furthermore it is unclear how the record number of unemployed would be able qualify for a mortgage.

 “Why be so negative, this is good news! We are in recovery and have been since the beginning of the blip” Said Bornhere. “All news is good news, stop thinking and just listen to me.”