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Florida CFO: Housing is Making a Comeback

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    Florida CFO Jeff Atwater weighs in on the condition of the state's housing market.

  • Duration 3:04
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Job markets now to a different market that would be housing right now -- new home sales rising by 3.3 percent.

The month over month figure that came in today and the CEO of the luxury home builder Toll Brothers cannot said that the company -- recovery.

In one of the hardest hit areas and that would be the East Coast of the state of Florida Jeff -- happens to be with us today the chief financial officer for the state.

Authorities here in new York and to see you again could say thank you very much for coming in give me a some sort of a tangible example that things are getting better for Florida housing right now.

-- if firstly -- it began with.

-- the climate for success so we we lowered our corporate taxes -- lower property taxes.

So for forty and we were terribly hit 06 or 70 -- -- those things taking place.

We've now seen the inventory housing inventory for Florida that was about ten point 2% one year ago this month.

Now down about five point 8% somebody 43% reduction in housing inventory prices should go copper prices have finally -- -- -- taken -- -- on pricing so they would -- about 250000 for the single average significantly in Florida down about a 129000.

Which is about more than -- investors its -- it was a devastating hit and now we're back for an auto run rate about a 150000.

Are you really for the month so -- OK so.

But potential and a good trend line it stabilized and now its its -- and yet because we were just show a man that I've Bob looked at at those numbers are.

Pretty stark when you consider and and really that's what people think about a by house I was just gonna cost obviously interest rates -- -- that.

When you look at 215.

Down to one.

Thirty insurer what do you think though that number for the year might be this year mean are you are you to -- -- run that one.

Fifty kind of number for the full year in Florida be a little -- -- -- percentage -- you -- represented -- but I think that's what will be we will again we we hit that stabilize -- -- about 13135.

And now we're finally started against why I think that you probably see for the annual -- twelve them that this leader for point twelve we'll probably about 150 let me ask you this because in.

You know government -- we all remembered his -- about -- -- few years ago things got crazy.

Not everywhere but especially party go you know that the condos going up and nobody's in them and all these kind of things -- those pictures got to be it's part of the big story of the housing.

Boss as far as -- gov -- -- state looking at -- how do you make sure that what happened last time never ever ever happens again that never -- that out of control again.

What I think you have to first trust the market place in in the government was complicit all the this -- where we're rates were kept.

Nationally we were encouraging.

This kind of construction activity are pretty -- now -- they're pretty low now in this -- -- this you have to worry about the same issue but.

But now you have a in America -- getting back to work the rational behavior after the recent experience.

Those -- be able to -- indicate relocating and those will choose Florida retire those.

Our -- to our efforts to create a diversified economy afforded to attract a new election population's gonna.

We're we're actually a about -- -- of 1% growth rate after falling too late to actually negative for the first time ever in 2008.

So were the this year were protecting about a 190000.

New residents -- -- the Florida -- that can absorb that house stuff to come back that come back Florida thank you sir for coming and get everybody what are you.

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