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Kendra Todd of the Kendra Todd Group breaks down why parts of the Sunshine State are poised to recover in 2012.
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With the state of Florida it's the big story today with the primary and the big economic issue for the voters in Florida.
Is and has been housing so with that in mind here's a the -- -- -- realty track one in every 360 homes in Florida.
Was in foreclosure December of 2011.
As of that date.
It's part of the reason our next guest is calling Florida ground zero for the nation's housing problems and Kendra Todd.
You may recognize from her days on the apprentice is now the founder of the Kendra Todd group.
She's in real estate and joins us to talk about just that -- Florida good to have -- by the way Kendra.
Florida's been a mess for years now we know that in terms of housing is it starting.
In your view to make a comeback -- now.
There are certain areas in Florida that are definitely showing some signs of recovery.
Actually Miami Florida has been inflated the number one market in America.
To experience recovery in 2012.
They're expecting -- six point 4% increase in home prices.
In -- in the area over the next year but most of that is going to -- fueled.
By international buyers because this state of Florida has literally been.
Crippled economically because they're still have -- -- heavily reliant on housing and are not getting the baby boomers retiring down there.
And it's such a big hole you know to dig themselves out -- -- burn up a chart here and look at on the Mortgage Bankers Association foreclosure.
Break in Florida fourteen and half percent of homes in foreclosure now before the crisis -- the end of that charges went straight up before the crisis the number.
Was one point 6%.
So that's the kind of issue you're dealing with in terms if it's not -- to be tomorrow to get the state thing turned around right -- -- any way to put a timetable out on it your view of.
And well definitely not in the heat of Florida.
-- if you think -- -- if you consider the numbers more than half of all borrowers in Florida are underwater on their mortgages right now it's it's staggering number it's a major issue.
Whoever the GOP candidate is in the general election is gonna have to bring to the table.
Some very specific -- Because when you -- 300000 dollars on.
The mortgage on your home it's worth a 150000.
You're not gonna be even breaking even in the next decade.
Are you hearing anything and we are gonna talk to congressman Connie Mack from -- about this but specifically what it comes to housing are you hearing anything from the the top two in the polls down there Mitt Romney who -- the polls are right looks like he'll win today.
Or the Newt Gingrich is trailing Romney in the polls in Florida certainly taken up a lot of hits for his days working for the taking money from Freddie Mac.
Have you heard anything from either one of those two that you like just terms -- house.
Well I didn't think it's a little frustrating about that the primaries as the fact that.
The candidates are kind of skirting around specifics.
Because they don't want to get hammered on any type of now back in October.
Romney was talking about.
Let you know let government get out of the way in the housing market hit its bottom.
And and and leave the free market alone but now we started changed his tune a little bit and saying that he might consider or endorse some type of government program.
To help modify loans for homeowners underwater.
-- Gingrich he has virtually nothing on his website about out housing and hasn't really attract debt.
-- Kendra Todd as the president of the Kendra Todd group thank you very much for coming up and we appreciate it.
