by Andy Winkler
American Action Forum
April 10, 2014
One year ago, experts at the American Action Forum wrote a paper examining the Florida housing recovery. Epitomizing the boom and bust of the housing bubble, prices in Florida increased 152 percent from 2000 to their peak in 2006 and subsequently fell 52 percent. Florida’s narrative last year was largely defined by high foreclosure rates, lengthy foreclosure timelines, and steep job losses, especially in the construction industry. But over the past year, Florida’s outlook has brightened; house prices have risen 24 percent since hitting bottom in 2011, the unemployment rate has fallen from 11.4 percent at the peak to 6.2 percent in February 2014, and foreclosures appear to finally be waning. While investors and international buyers have helped buoyed Florida’s markets, the recovery moving forward will depend more on continued growth in wages and jobs and will vary by market.

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