Many long time home owners are upset over the falling house prices in Orlando, Florida. Researched shows that current home values are just about where they would have been if the real estate bubble had never inflated and bust in the first place. Even though prices rose and fell dramatically in recent years, they appear to have settled back into their normal patterns, according to University of Central Florida professor, Mr. Smith. Many homeowners are within six percent of where thy would have been had there not been a bubble in the housing market. They consumers who purchased in 2005 and 2006 who did purchase a home have been hurt significantly.
Historically home values in Central Florida and the Metropolitan Orlando area increased 4.7% a year on the average. The bubble emerged, with home prices rising in 2005 at 20 percent and in 2006 32 percent.
Source: University of Central Florida
Source: Orlando Sentinel
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