Saturday, January 17, 2015

Florida’s Economy is growing

During the recession Florida was one of the hardest hit state in the United States. The state has one of the highest unemployment rates, the housing sector was a disaster, manufacturing had decrease and the tourists and visitor numbers also went down. Based on the market down turn the retirees could not afford to come down to Florida and enjoy their retirement as they had planned before the recession. This had a negative impact especially for the southwest region of Florida which is preferred for the retirement.

This hard economic time is over and each day more than 700 people move to the Sunshine State. This number adds up to more than a quarter million a year and that gives the housing market a big boost in that area. The low rate mortgage opportunity help the new retired home owners to buy a home here in the sun.
This new home requests helped the housing market to improve. This economic improvement also triggered new developments in the Sarasota area and the existing home value moved into a positive direction. The economic movement assisted the job market to recover and made unemployment rate to decline. However, after the more dramatic improvement of the overall economic data, this trend will go to a slower pace in the near future.

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