Tampa's Economy Falls To Last Place In Regional Survey

[Greed is Good]

Alot of people said this would never happen here.

http://www2.tbo.com/content/2008/may/19/tampas-economy-falls-last-place-regional-survey/?news-money

TAMPA - Continued job losses helped propel the Tampa Bay area's economy to last place in a ranking of six Southern cities, according to a new report by the Tampa Bay Partnership.

The semi-annual report, released today, ranked the Tampa Bay region against five other metro areas: Jacksonville; Atlanta; Dallas; and Charlotte and Raleigh/Durham, N.C. The partnership, an economic development organization, ranks the cities on various economic indicators to determine whether the Bay area is rising or falling in economic vitality.

For now, the latter is true. According to recent economic data, the Bay area came in at sixth place out of the cities for the spring 2008 period. That's down from fourth place in the partnership's last ranking, for the fall 2007 period.

The organization chalks up the falling ranking to a worsening employment situation in the Bay area.

Housing also continued to drag down the Bay area.

According to the partnership's ranking, the Bay area's rental affordability ratio and single-family-home affordability ratio ranked last, compared to the other cities. A somewhat dubious achievement this quarter is that the Bay area no longer ranks last in housing permit growth rate. The Bay area now ranks third, with a 35.3 percent drop in housing permits issued. Atlanta and Charlotte, with drops of 50.3 percent and 37 percent, respectively, were slower.

[Joe]

FYI,

for anyone who cares to read the actual report and not some writer's opinion...

Scorecard Report (http://www.tampabay.org/documents/2008%20DASHBOARD%20REPORT(1).pdf)

Also, some information on the organization who issues that report...

http://www2.tbo.com/content/2008/may/04/bz-recent-missteps-dont-diminish-tampa-bay-partner/

[MianoSM]

That score card doesn't look that great...

[Grangalan]

Makes me think twice about quitting the bank heh

[Greed is Good]

Get out of denial Joe. :lol:
Remeber when you said this.
As far as more jobs, have you not seen Monster lately? There are MORE and MORE jobs coming into Tampa every day. Why? Because Tampa is now seen as one of the best places for a company to move from the high costs in the north/cali.

When those people move from the north with their company, do you seriously think their salary gets "adjusted" to "Floridian Standards"? Hell no. I know I wouldn't move anywhere if they cut my pay... Same thing.

The "drop" people are talking about seems to have two sides, the drop that people are "hoping" for, and the REAL drop.

Look at what is taking place here and you will start to realize that the only "drop" that will take place here will be a "slowing" of sales which will simply slow the increase of prices. The only thing that would "burst" any price bubble would be if everyone in Tampa had some wierd thing that caused many of them to want to exodus out of here and head elsewhere, which in REALITY will not take place.

Again, the ones that have the "evidence" for bad things here, are the ones not taking the risk and getting the gain by jumping in the house market here.

[Joe]

Yep.

and for IT (which is who I was talking about), it still holds true.

Try a dice search for Tampa IT jobs... Plenty of work for those that have the experience.

Is there a decline in jobs? Yea. So, there is everywhere... Is Tampa at the bottom of those 5 cities in the list? Heck no. Anyone here ever go to Jax? I mean seriously... talk about shithole...

Do the same IT job search for Jax and tell me business is great there compared to Tampa.

Again. How much real estate have you owned? None.

Yet you still think that your view of the RE market is the most accurate one on this forum. Odd isn't it?

All I can say is that there are home sales taking place, and there will be people who make money on this slowdown. Will you be one? :dunno:

What I was stating is take the source of the writeup for what it is. Look at the actual values used and draw your own conclusions for what they are trying to show.

[BAMF]

I just got an IT call center job with almost no experience making 42k/yearly.

One of my friends with a decent amount of IT experience got a QA job making like 85k. Another one of my friends with a GED just got a similar QA job making like 95k....Sounds like a shitty job market to me. :lol:




Oh, and let me tell you as a person currently looking at houses and putting in multiple offers a week that get bounced back to me because they're already under contract; also as a person who deals with an HONEST real estate agent (friend of the family and whatnot. Good guy.) every day with these houses....the general attitude here towards the real estate market right now is completely out of touch and wrong, at least as far as this local area is concerned. The real estate market is FAR from dead. I've been beat out of 4, count 'em, 4 houses so far because other people tossed offers before I could get mine in. Some houses are still selling for over list price. My real estate agent has been doing a considerable amount of business, as well.

Its funny how first hand experience and 'the articles' embraced by the gloom-n-doom peanut gallery seem to differ...

[MianoSM]

Someones aren't telling the whole truth.

[Greed is Good]

Come on Joe crawl out from under that rock you been living under. You flip flop. Nothing bad was coming in your eyes. Do you live in Tampa or conduct any kind of biz here? I see it first hand here in Tampa with with all the restaurants closing biz's closing down manufacturing plant's layoffs financial layoffs and so many people looking for work.You speak of RE sales like inventory is going down. Still rising and prices still declining. Look at the numbers they suck. And just take look around whats selling? Everything you bought the last couple years was overpriced crap. I will buy when the time is correct. But I'm just glad i'm not caught with my pants down like you and others with overpriced homes that they can't sell, or cover there mortgage payment by rent. It's kinda pointless to argue with you cause your wanna the people that told people prices will never go down and remember "Keep

waiting till the RE "bubble bursts" and you'll never own a home.

It's called a reality check.

By the way Bulls how are we feeling in the stock market today?:lol: Hope your short

[Joe]

You're right.

Like I said, prior. You are the expert.

[BAMF]

You're right.

Like I said, prior. You are the expert.

Well, his dad has been teaching him.

[Tackleberry]

ive been noticing tampa sucks for jobs for a while now...no shock here

[Greed is Good]

ive been noticing tampa sucks for jobs for a while now...no shock here


But yet we have people like Joey and others that think there's nothing wrong. It took this guy several years to see and admit there was RE bubble and claims people who don't' own multiple properties have now knowledge. What knowledge he has if he couldn't see it coming:lmao: