Economic Downturn

[poromo]

How, if at all, will the economic downturn affect The Villages and how will it affect the Central Florida retirement communities, in general?

[GMONEY]

Busniess will slow down, products get more expensive. The Villages building is already starting to slow down...

[jeffy]

I had two separate couples that had me send out a rental agreement. They called me back the next day when it was a day that the DJIA dropped 500 points and they said they were going to hold off. The one guy admitted it was because of the stock market.

jeffy

[Best Mom]

I am in upstate NY now. One friend from here has bought a pre-owned house in the Villages for a steal ...price was so low. Owners took a hugh loss.
Owners were desperate to sell because they had lost so much in stocks.

[collie1228]

If you need to see evidence of a big change in attitude, take a look at Milford Leedy's real estate website where he lists the 20 most recent price reductions in TV. A house selling just this week for $795K was reduced to $629K, one selling for $279K was reduced to $239K, and even a smaller dollar value house, selling for $164K was reduced to $134K. It's definitely a buyer's market, and should continue that way for some time to come.

[billethkid]

half of the rest of the state.
Retirement communities like TV usually have a higher than average income (TV is supposedly approaching $80,000) most of which is fixed SS, other retirement plans...hence they tend to be more recession resilient.

There will always be a certain percent like the ones who canceled because the stock market is down. I guess I never looked at the stock market to determine if I was ever going to take a trip or buy something. If they had to sell stock to make the trip maybe that is a problem....shame on them...bad planning.

The only thing housing prices have done is returned to reality.

BTK