With the mortgage gloom of late now compounding the real estate gloom, here’s a reminder of why Orlando is still a great place to live – and why we’re shielded from the worst of it.
1.) Industry continues to move here. Last week, another simulation company moved to Orlando citing Orlando as the “capital of simulation.” Who knew?
2.) With so much industry moving here, unemployment is low. Unemployment was just 3.3% for January 2007.
3.) Spring travel numbers are up. This week, Orbitz placed Orlando as No. 1 in it’s recent list of favorite spring break destinations for non-students. Perfect. Hotels are sold out.
So due to it’s various economic strengths, Orlando has been pretty well shielded from the brunt of the recent housing problems, compared other cities and states. And despite a slow market at present, the future of real estate and yes, the condo market, looks very bright for Orlando.
Within the next two years, Baby Boomers will be moving here in droves and the increased demand for condos should promote steady growth in building and real estate equity for the next twenty to thirty years.
In which case, I take it back. Forget condominiums. We should all be working the assisted living angle. Other than Solivita, I’m not seeing a great rush by developers to build centers to cater to an ever aging U.S. population that has a love affair with Florida. That’s where the real money is going to be over the next decade or so.
Anyone want to go halves on an assisted living condo community? I’m in!