FLORIDA LED U.S. IN JOB GROWTH IN MARCH

FLORIDA LED U.S. IN JOB GROWTH IN MARCH

These are fun articles to blog about!! It is true, Florida’s economy is on fire and now leads the country in the creation of new jobs. How many new jobs were added you might ask and wonder? How about 22,900 jobs? It is still almost hard to believe after the nightmare we endured so recently. These are exciting times to be in Florida right now and the real estate industry is right in the middle of all of this growth. The industries that have posted the most jobs added are construction, retail trade, real estate, rental and leasing, professional and business services, health care and social assistance and finally the government. You see when the recession hit the real estate industry very quickly withered and died. It seemed as if someone just shut off the water running from a sink, and then that was it. Most real estate professionals make their money based on transactions of one kind or another, whether it be leasing, sales, for either residential or commercial. So what happened when the transactions stopped? Many of them left the industry, in search of some other kind of work that could actually provide a living for people accustomed to providing for their families. Many of these people left the state, in search of new beginnings in North Carolina, Tennessee or Georgia. Now that the water is back on people are returning to the industry and there is tremendous growth. Residential development is happening again of all types and the activity in Miami is beginning to spill over to Broward and Palm Beach once again. And banks are beginning to lend again, lowering their standards again, so that they can also make more money. And so we are setting ourselves up for a repeat performance of what just happened right? Maybe so but hopefully we have all learned and will be better prepared this time. Everything comes in cycles, some say 7 year cycles, and this economic recovery cycle is on the upswing and hopefully just getting started. As always thanks for reading and have a great day.