HFBoards

Go Back   HFBoards > General Hockey Discussion > The Business of Hockey
Mobile Hockey's Future Become a Sponsor Site Rules Support Forum vBookie Page 2
The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, NHL revenues, relocation and expansion.

OT Housing markets with great forecast for next 5 years

Reply
 
Thread Tools
Old
12-24-2011, 05:09 PM
  #1
LadyStanley
Elasmobranchology-go
 
LadyStanley's Avatar
 
Join Date: Sep 2004
Location: North of the Tank
Country: United States
Posts: 60,433
vCash: 500
OT Housing markets with great forecast for next 5 years

http://www.businessinsider.com/best-...5-years-2011-7

Article looks at the top 15 housing markets (with more than double the expected US average of 3.7% increase).

A number are in Florida (a couple near the Panthers; however Miami is on the linked "worst" list).

Also interesting on the list: Reno, NV and a few cities (near Seattle) in Washington.

The worst list (linked on the last page of the best) includes a number of NHL markets including Nassau county, NY; Miami, etc.

LadyStanley is offline   Reply With Quote
Old
12-24-2011, 08:50 PM
  #2
mucker*
 
Join Date: Jul 2006
Location: Let's Be Safe!
Posts: 3,082
vCash: 500
I don't get why so many Florida markets are projected to do well.
Makes me really question it.

I'd say the best housing markets would have to include metro-DC, having none in their makes me really question this article.

mucker* is offline   Reply With Quote
Old
12-24-2011, 09:43 PM
  #3
MountainHawk
Registered User
 
MountainHawk's Avatar
 
Join Date: Sep 2005
Location: Salem, MA
Country: Vanuatu
Posts: 12,771
vCash: 500
Florida's markets got so crushed recently, that a lot of people think there is no where for prices to go but up.

I don't really agree, as I think housing is pretty much dead as an asset class for the foreseeable future in most US markets, but we'll see.

MountainHawk is offline   Reply With Quote
Old
12-24-2011, 10:19 PM
  #4
knorthern knight
Registered User
 
Join Date: Mar 2011
Location: GTA
Country: Canada
Posts: 3,888
vCash: 595
Quote:
Originally Posted by LadyStanley View Post
[url]The worst list (linked on the last page of the best) includes a number of NHL markets including Nassau county, NY; Miami, etc.
Actually, this could be quite on topic for the business side of hockey. Falling property values are an indicator of bad economic times, meaning fans and corporate sponsors have less money to spend on hockey. I followed a few links on the page, and the situation could be even uglier than it looks on the surface.

In addition to the existing inventory of reposessed homes, there's a shadow inventory. This is loosely defined as homes that, under ordinary conditions, should've been reposessed by now, e.g. mortgage payments are 2 years in default!!! However, these are not ordinary times. Banks know that they're going to spend time and money on the legal paperwork of foreclosure, and not be able to able to sell the home for anything beyond pennies on the dollar. I.e it's not worth their while to reposess now. The banks' "strategy" (if you can call it that) is to let the owners continue to occupy the home, and wait for a recovery in prices. At that point they hope to reposess the homes, and sell them. What that means is that any housing price recovery will get a swift kick in the teeth from all the reposessions waiting in the wings.

The real doom+gloom scenario is "Long Island Housing Markets Are A Disaster Waiting To Happen". There are separate analyses for Nassau and Suffolk counties. This could be really bad news for the Islanders franchise. If I was Bettman, I'd be working the phones in Seattle/KC/Houston/Portland to find a taker for the Islanders when their lease is up in 2015.


Last edited by knorthern knight: 12-25-2011 at 03:30 AM.
knorthern knight is offline   Reply With Quote
Old
12-24-2011, 10:56 PM
  #5
jol
Registered User
 
jol's Avatar
 
Join Date: Jan 2003
Location: Miami Beach, Florida
Posts: 1,646
vCash: 500
Quote:
Originally Posted by knorthern knight View Post
Actually, this could be quite on topic for the business side of hockey. Falling property values are an indicator of bad economic times, meaning fans and corporate sponsors have less money to spend on hockey. I followed a few links on the page, and the situation could be even uglier than it looks on the surface.
Florida (South Florida) is good example for this, real estate was/is main industry in South Florida and housing market collapsed at 2006-07 and since that for example Miami Dolphins have lost 20000 season ticket holders (reason also could be that team sucks). Panthers have had quite good spectator numbers, but they really are not pulling any revenues. Now team is doing well/better, can they raise ticket prices and if they do that, are people willing to buy tickets (or can they). Another example, Duffy's restaurant chain, quite popular in South Florida, CEO was saying "in this market they cannot raise their menu prices".
Quote:
In addition to the existing inventory of reposessed homes, there's a shadow inventory. This is loosely defined as homes that, under ordinary conditions, should've been reposessed by now, e.g. mortgage payments are 2 years in default!!! However, these are not ordinary times. Banks know that they're going to spend time and money on the legal paperwork of foreclosure, and not be able to able to sell the home for anything beyond pennies on the dollar. I.e it's not worth their while to reposess now. The banks' "strategy" (if you can call it that) is to let the owners continue to occupy the home, and wait for a recovery in prices. At that point they hope to reposess the homes, and sell them. What that means is that any housing price recovery will get a swift kick in the teeth from all the reposessions waiting in the wings.
Heh, again Florida is paradise for banks, if they foreclose condominium, the maintenance fees, they have to pay is 12 months or 1% of loan amount which one is lower.
I'm not sure if home prices can go up by very high percentage, it would mean that salaries have to start rising also. Of course it's matter of timing, there could a year or two, prices go up, but traditionally they have been going up by 1% annually since the beginning of times (realtors stats). Same thing in stock market, timing, for example Dow Jones Industrial Average, last 5 years +- 0, then in one day you can make 1.5%

JOL

jol is offline   Reply With Quote
Old
12-24-2011, 11:59 PM
  #6
JohniusMaximus
Digging the Sarchasm
 
JohniusMaximus's Avatar
 
Join Date: Sep 2009
Location: Middle TN
Country: United States
Posts: 764
vCash: 500
Reno? Didn't see that coming.

Love how D.C. made the worst list. Big surprise.

JohniusMaximus is offline   Reply With Quote
Old
12-25-2011, 03:38 AM
  #7
knorthern knight
Registered User
 
Join Date: Mar 2011
Location: GTA
Country: Canada
Posts: 3,888
vCash: 595
Quote:
Originally Posted by jol View Post
Florida (South Florida) is good example for this, real estate was/is main industry in South Florida and housing market collapsed at 2006-07 and since that for example Miami Dolphins have lost 20000 season ticket holders (reason also could be that team sucks). Panthers have had quite good spectator numbers, but they really are not pulling any revenues. Now team is doing well/better, can they raise ticket prices and if they do that, are people willing to buy tickets (or can they). Another example, Duffy's restaurant chain, quite popular in South Florida, CEO was saying "in this market they cannot raise their menu prices".
It's not just southern Florida. Here in Toronto, there were small lawn signs this past spring/summer being put up pushing REO (Real Estate Owned by banks) golf condos in the Orlando area, near Disneyworld, at 70% off. Pity the poor suckers who bought in.

knorthern knight is offline   Reply With Quote
Reply

Forum Jump


Bookmarks

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 12:29 PM.

monitoring_string = "e4251c93e2ba248d29da988d93bf5144"
Contact Us - HFBoards - Archive - Privacy Statement - Terms of Use - Advertise - Top - AdChoices

vBulletin Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.
HFBoards.com is a property of CraveOnline Media, LLC, an Evolve Media, LLC company. 2015 All Rights Reserved.