Jack Phelps
Jack Phelps
banks commercial economy estate financing housing southeast
Housing and commercial real estate have been a very important part of the economy in the Southeast and Florida. Banks are financing all of the development.
industry levels performed record seen
The industry has performed very well. We've seen record levels of profitability.
pinch start
This may start to pinch some consumers' wallets.
banks housing lending lucrative market
This lending has been lucrative to banks here. The housing market has been vibrant.
afford appreciation buyers home house housing negatives pace payment percent price rapid
The rapid pace of appreciation and other negatives has made housing become very unaffordable. About one-third of home buyers can afford the median price of a house using the traditional down payment of 20 percent down.