Originally Published January 10, 2017
75 consecutive months of national employment growth means we have momentum going into New Year - a New Year that comes with new challenges and new changes we can forecast. We know national economic progress is not going to take a sudden stop or a dramatic turnaround because large looming issues aren't weighing heavy right now. Although, those looming issues are being monitored before they become too risky. Those national and global issues should be watched and taken into consideration as the 2017 progresses, in order to tell us what’s in store the next 2-4 years, but their risk seems controlled in the short term.
Tampa Bay and Florida Strength in Current Economy
On a local level, when you look at Tampa Bay and Florida’s strength relative to the nation, we are above average and should feel good about prospects for growth that could outrun and outlast the larger economy as a whole. We might even see faster growth due to tight conditions in the labor markets as forecasted by a local economist, along with higher profits, more construction jobs, boosted tourism, continued population growth from retirees, and relatively low fuel costs.
Even with Florida having been hit the hardest in the Great Recession, healthy economic and demographic trends are propelling us to the top of national lists for demand in housing. That in turn, helps all our local economies because so much is tied to housing as one of our major economic drivers. It also provides opportunities for us to convince investors and others that are considering Tampa Bay and Florida as a place to call home while the Midwest and Northeast struggle and before increased rates push affordability further away. More people should potentially consider moving to the Sunshine State in 2017! If the NCAA National Championship didn’t highlight how well we can handle the big stage, then keep your eyes open for more. The region’s potential is growing.
Real Estate Help in Tampa Bay
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