So if an individual or couple/family have the means, now is the time to buy a nice home for pennies on the dollar?
Buying a house in Orlando MSA at this point is a decision based more upon oil prices, currency inflation, and relative strength/weakness of the US dollar compared to currencies of foreign tourists.
If someone was looking to buy into Orlando nowin the 400k+ range, you can buy into Wekiva Springs, Dr. Phillips, Butler chain of lakes or Winter Park for prices not seen in 10 years. Newer stuff like Baldwin Park and large condos downtown can be had for the cheap also.
The thing is without tourism Orlando is sunk, the loss of Cape Canaveral will slow long term growth in the aerospace and technology sector, the bankrupting of so many local banks will slowdown longterm growth in the FIRE economy, and the region has a foreclosure backlog that is about to hit like a wave onto the market.
If oil makes air travel prohibitively expensive, if the Euro implodes pushing the value of the Dollar up, or if the local economy doesn’t find a new impetus of growth.... Orlando is looking at a decade of stagnation.
For retirees, Orlando is probably inflation adjusted as cheap as it was in the early 1980’s... which means if you come down with some money, you can live well.