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Economic growth in the second half of the year is expected to come in “substantially” above previous consensus, according to economic commentary this week from Bank of America/Merril Lynch analysts.
Lori Helwing, an economist at BofA/Merrill Lynch, says the analysts there now expect a 2.1% slip in real gross domestic product (GDP) in 2009, 30 bps improved from the old -2.4% estimate. The US economics team also expects 2.6% growth in real GDP in 2010, up significantly from the old 1.8% estimate.
The revised projections come as the analysts see residential investment starting to bounce back.
Residential investment is now projected to decline 20.1% for all of 2009, nearly two full percentage points improved from the old -22% estimate. Residential investment is seen to grow 4.5% in 2010, a vast improvement over the 4% decline previously projected.
“We are now tracking positive sequential growth in 3Q after 3-1/2 years of declines and a 53% correction from the peak is set to add to growth over the second half” of 2009, Helwing says. “This stabilization in homebuilding and slightly positive home sales could continue going forward.” Source: nuwireinvestor.com
Estimates by analyists are now being revised from previous doom and gloom to a slighly more positive outlook. The real estate market is slowly starting to recover, because of this estimates of home prices will be impacted. Signs in Naples are pointing to the bounce back of the real estate market
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The 6,000-square-foot clubhouse at Alden Woods has been completed. The resident amenities center offers a 4,000-square-foot resort-style pool and deck area, and the 2,000-square-foot interior includes a social gathering room in green and brown tones, a cabana, shaded breezeway and fitness center. Interior design was completed by Pizzazz Interiors, part if the Stock Family of services. Alden Woods is a neighborhood of 116 luxury coach homes. The coach homes, ranging from 1,657 to 2,040 square feet under air, each feature lake and preserve views. Prices start in the $269,000s. Lely Resort has 13 neighborhoods with homes priced beginning at $198,990. Residents have access to the Players Club & Spa at Lely Resort, a separate non-golf clubhouse providing a casual, tropical atmosphere. There are also three golf courses, two golf clubhouses and a village center in the Olé neighborhood. source: naplesnews.com
Lely Resort and the gorgeous surroundings and the variety of recreational and social opportunities have made Naples the crown jewel of Southwest Florida. Lely Resort is located in the heart of Naples and puts residents within minutes of everything. View Lely Resort Homes for Sale
