Today’s headlines seem to tell a uniquely bleak story, but at the same time, a quick look back at history gives us a different message.
Do you remember standing in line to buy gasoline in the 1970’s? That means you're my age. :-)
In the 1980’s, the stock market crashed and lost almost a quarter of its value overnight. And on into the 1990’s and 2000, with the dot com burst, it appeared this crazy emerging technology thing called "the internet" might be dead in the water.
So, that was then and this is now. Gasoline is at an indecent price, but nobody’s standing in line to buy it. The stock market still has its ups and downs, but it’s definitely healthier than ever. And as for the internet, every day it seems to exert a greater influence on our lives.
None of us can predict the future, but we can certainly learn from the past. And if recent history teaches us anything, it’s this—tough times inevitably come, and tough times inevitably go. Economist Dr. Hank Fishkind of the University of Central Florida offered this historical perspective: “The history in Florida is that house prices jump up…and then they flatten out.” So we’ve seen the jump, and now we’re seeing the flattening. It’s nothing new. Real estate grows in value more quickly in some years than it does in others.
Florida Facts
Florida’s population has grown 13.4% since 2000, compared to only 6.4% for the rest of the country!
Most recent figures show us over 70% of Floridians own their own homes, well ahead of the national average.
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