UF study: Job uncertainty holds back real estate resurgence: "GAINESVILLE, Fla. – Nov. 3, 2009 – With the state’s high jobless rate, Florida’s real estate outlook faces a dangerous condition that can delay any economic recovery: uncertainty.
“Most economists think the recession is over, but people are afraid to spend money as unemployment keeps going up, which creates problems for every sector of the real estate market,” says Timothy Becker, director of UF’s Bergstrom Center for Real Estate Studies, which released the latest University of Florida (UF) quarterly survey.
Florida’s unemployment rate climbed to 11 percent in September, its highest level since 1975, Becker says. And that, along with a large number of foreclosures, places Florida near the bottom of states expected to recover from the economic downturn.
“Florida was the first one into the recession and it’s probably going to be the last one out,” he says."
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