Wahoo!! @ The Developments in Pensacola
About 2 years ago we started seeing new construction, but now it's as if new construction is happening everywhere. From Perdido Key to Gulf Breeze and from Downtown Pensacola to Cantonment. And not just single family homes, but entire neighborhood developments. Just to name a couple, the expansion of Lost Key and with Navy Federal relocating their headquarters to Pensacola, Cantonment is booming. Lots of new construction is exciting, particularly exciting to see how downtown has and continues to revitalize (it was a dump when I visited for a fishing trip just a little over 10 years ago). Now it is awesome.
With all this excitement, building & revitalizing, the recent announcement of two larger developments in and near downtown Pensacola has me wondering. Is it too fast?
I wasn't really in the real estate game when the bubble popped in 2006-2008. Ok, ok, I did get the bug on the tail end of the hype (which I'll write about in an upcoming post), but now that we all know what happened then, are these truly signs of improving times or another economic bust?
It is hard to say and one that only elite experts can predict (recommend watching Adam McKay's The Big Short), but I don't think we're facing another housing crash anytime soon. It is just too damn hard and complicated to get a loan these days. Credit Unions, Banks, mortgage brokers, they are all starting to become 4-letter words to me. Regardless of the lending institution, they are just to damn difficult to deal with. And this is coming from someone who is an ideal candidate for a home loan. Rant over, I'll save it for another post :)
It is exciting to see what's going on in Pensacola and many people are responsible. I'm glad we just get to experience it. Wahoo!!
Article links to the aforementioned developments:
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