Florida Economic Recession, Miaim Beach Real Estate

Delay Foreseen in Florida Economic Recession

According to a new prediction, Florida’s economic recession will bottom out in the middle of next year. This is six months later than state officials formerly projected.

The forecast from the Florida Legislature's Office of Economic and Demographic Research brings the state's predictions in line with those of at least two nongovernment economists who offered similar outlooks last month.

Through the end of 2011, State forecasters also are forecast an unemployment rate near 11% with close to 1 million out-of-work Floridians. After seeing last week's reports of increased unemployment and foreclosure rates, they also pushed back their forecast for the start of the economic recovery by six months.

Miami Tourism, South Florida Hotels News

2 Key West hotels were just branded Waldorf Astorias. The Hilton group recently created a new Brand: The Waldorf Astoria chain. The Casa Marina and Reach hotels just joined the Waldorf Astoria franchise and to capitalize on a strong brand that originated in New York. The hotels are under the umbrella of the Blackstone Portfolio. The Fort Lauderdale Bahia Mar will also join the new franchise. The tourism market all over the world is negatively impacted by our current crisis and hoteliers are attempting ways to boost their revenues. Getting a better perceived brands play an important role in a better marketing activity. The Miami real estate is impacted by the current environment but certain segments of the Miami commercial real estate market are still robust. Looking to buy a hotel in Miami Beach is still not an easy task, demand exceeds supply