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Get giddy, economist tells Realtors copy
By HELEN HUNTLEY
Published September 2, 2005
Real estate bubble? Not around here.
David Lereah, chief economist of the National Association of Realtors, had nothing but happy talk Thursday for members of the Pinellas Realtor Organization.
"This is a healthy marketplace," he proclaimed. "When I look at Florida, you know what I see? I see California 100 years ago."
Lereah says the state's population will double by 2040 as people (and their money) continue to migrate to Sunbelt states from the Northeast and the Midwest.
When home prices do start to fizzle, it will be more like a balloon slowly leaking air than a sudden burst, he said.
The economist is putting his money where his mouth is; he said he owns properties in Tampa and Fort Myers.
The Pinellas Realtors' group is experiencing its own boom - it has 7,480 members, a 47 percent increase in the last three years.
Members say the market is still doing well, but some report inventory is growing as sales have slowed.
About 270 attended the meeting at the Radisson Hotel and Conference Center in Pinellas Park.
[Last modified September 2, 2005, 09:48:50]
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