According to Economic Commentary by Florida TaxWatch, Florida is now one of the nations fastest growing job markets. Job Creation in Florida Increases and recovery from the recession is in full swing. In the last year Florida has added over 240,000 new jobs (non-farm). In the first 6 months of 2016, 113,000 new jobs were added. Unemployment has dropped to 4.7%.
Business and Professional Services were among the brightest spots with over 48,000 new jobs. Other industries such as health services, hospitality and constructions also saw robust job gains.
Economic growth and job growth has boosted the real estate sector as well. Fewer Florida families are now “Under water” in their mortgages due to value appreciation. Home equity is adding wealth to family net worth. Corporate or Company owned properties are more likely to be considered a stressed property than are individually owned properties.