HAPPY APRIL FOOL'S DAY !

IF YOU CAUGHT OUR SIGN IN SOHO OR OUR PARADISE TOWER Link on our websites,
you should have thought about it being April Fools Day OR at least thought about the fact that what bureaucrat would ever let a multi level mobile home park ever happen in Tampa. OR at best, you should have guessed that nice neighborhoods would never allow a mobile home park - of any nature - in anyway.

BUT the point TAMPAGOLD wanted to make is that affordable housing is an issue that is about to wrap around our Paradise's throat in a fast way.

Key West is dealing with this problem in a major way. The restaurant servers, hotel staff, maintenance people are all being pushed farther up the highway due to the price explosion of real estate on the island. The trade out means longer commutes increasing transportation costs and adding to less time to spend with family and friends. Tampa is experiencing a rapid price increase. Developments are selling out before even breaking ground.

In SOHO, townhouses starting at $399,000 are springing up everywhere and seem to be selling briskly. How many bartenders or hotel clerks can afford that price tag ? This price explosion moves like a giant growing cloud - more residents moving from Tampa to Brandon, Riverview, etc. to escape those high prices. Intown, the public housing projects are being eyed by developers with an eye to gobbling up this land in exchange for a multi price level development.

Recent reports show average area prices in the low $200,000 range while average incomes support prices in the low $100,000 range. The Tampa Tribune has been doing a very good job reporting what is happening. Our only criticism of their coverage is that it should be in BRIGHT RED Letters !

When will this quit ? It's anyone's guess, but the rising interest rate environment can sure put a strangle hold on the homeowner's budget. Speculation is clearly serving a part in fueling the Tampa market. With over 20 projects destined for downtown, most have alreadybeen reserved or sold out. It would sure be interesting to see how many of the same names show up on each building's sold list. Recent articles about job losses in Tampa seem to about match job growth. So what does that mean for a growing population ? Just maybe a multi level mobile home park isn't such a bad idea after all. What do you think ?