Isaac Toussie Looks At Real Estate in Florida

By Isaac R. Thompson

The current economic malaise has hit Connecticut as well, but there is no danger of oversupply in the state; inventory levels have been consistent, probably because Connecticut housing has not been subjected to the amount of speculative investment that other places have experienced, such as Florida or Nevada. Connecticut maintains its generally pro-business policies and there is no danger of an exodus among commercial tenants, either. Surely it has also helped that media attention has been focused on other states, whereby the panic selling that's ensued elsewhere has not gripped the Connecticut real estate market.

Connecticut has the most upscale estates in the country after California, and over three percent are priced over a million dollars at the turn of this century. Most of these residences are situated in the northeastern part of the state, with median values being assessed in the multiple millions, Isaac Toussie comments. Connecticut's southwestern part lies within the greater metropolitan area of New York City. In fact, three out of the eight Connecticut counties form the Tri-State Region with New York and New Jersey. In spite of the economic downturn in the rest of the nation, Connecticut real estate has not gone through too much upheaval. Though credit has tightened, inventory remains stable.

Statewide stock of condominiums in Connecticut have remained at steady levels, no matter the economic downturn of late, and this is a positive sign which bodes well for the real estate market there as a whole. Thanks to government action that's maintained access to credit, there is actually some good news for those savvy enough to "connect the dots."

Mortgage interest rates have plunged dramatically and there is a tax credit stimulus package for first-time home-buyers, making $7,500.00 available. Finally, people have got to live somewhere, so any decline in the condominium market can only be temporary. This is a market with a lot of upside, notes Isaac Toussie.

The ideas of this article have been provided merely for informational and human interest purposes and no more, not for advisory purposes, and ought not to be depended on in any way by any person or institution. The reader should not rely on the accuracy of any of the opinions presented herein. The reader is advised to consult a variety of professionals when making business or any other significant decision, including accountants, lawyers, investment advisors, insurance companies and the like. Again, this article has been posted strictly for human interest and informational purposes, not for advisory purposes. - 23311

About the Author:

This article was submitted by Isaac Toussie to provide some helpful information on real estate. Keep an eye out for more Isaac Toussie articles to come!