Florida's real estate forecast is still sunny
By HELEN HUNTLEY
Published September 18, 2006
Florida real estate may be in a slump, but its future is golden. That's the good news former Wall Street economist Richard Hokenson delivered last week to Tampa Bay's Chartered Financial Analysts.
"Ride the wave," he told them, but he wasn't talking about surfing. Hokenson, who runs a demographics consulting firm in New Jersey, said the wave of baby boomers rolling into retirement provides an investment opportunity.
"There's a baby boom tsunami and a fixed supply of coastal land," he said at the meeting at the University Club.
Whether boomers can afford a Florida retirement may depend on whether they can shed their NIKEs, the acronym Hokenson bandied for "No Income Kids with Education."
Hokenson says population trends explain 70 percent of what happens in the economy.